European shares open lower on inflation worries; Travis Perkins slides

European shares opened lower on Tuesday, with UK's Travis Perkins sinking after disappointing annual earnings, while data from France and Spain pointed to inflation being stickier than feared.

The continent-wide STOXX 600 index slipped 0.4% by 0810 GMT.

The 12-month inflation rate in France rose to 7.2% in February from 7.0% in January, partly as a result of rising food prices, according to preliminary data.


Separately, data showed Spain's consumer prices rose 6.1% year-on-year in February, a faster pace than the 5.9% during the 12 months to January, and above the 5.7% expected by analysts polled by Reuters.

Travis Perkins fell 7.6% after Britain's biggest supplier of building materials posted a 16% decline in annual profits, hurt by lower property profits and a restructuring charge.

European markets closed sharply higher on Monday, kicking off the week on solid footing, but worries remained of more U.S. and euro zone interest rate hikes to tackle stubborn inflation.