European shares closed slightly down on Tuesday, as investors remained cautious regarding stock valuations, the possibility of policy action from the European Central Bank (ECB), and upcoming elections.
The pan-European FTSEurofirst 300 Index provisionally closed down around 0.1 percent at 1,357.18 points on Tuesday.
The U.K. FTSE100 closed down unofficially 0.6 percent. It was pulled down by heavily weighted telecom Vodafone, which closed down around 5 percent. The company pledged to boost its dividends on Tuesday, but reported a 1.9 percent fall in full-year revenue.
U.K. retailer Marks & Spencer reported underlying profit for the full-year that managed to beat market expectations on Tuesday, but still marked a steady decline. Its shares closed down around 1 percent and shares of other U.K. supermarkets were also affected.
Credit Suisse shares rise
Shares of Credit Suisse closed up around 1 percent on Tuesday. The Swiss bank had been told to pay $1.8 billion in fines after it pleaded guilty to helping Americans evade domestic taxes on Tuesday. Fines and restitution will mean the payout will top $2.5 billion.
On the data front, German producer prices showed a more-than-expected decline on Tuesday. The data for April showed factory prices fell 0.1 percent on the month and 0.9 percent for the year, with energy prices being a key reason for the decline.
In the U.K., April inflation figures showed that consumer prices rose by 1.8 percent compared to the same period last year. This was above expectations for a 1.7 percent rise and helped sterling climb against the dollar.
Follow us on Twitter: @CNBCWorld