European stocks finished in the red on Tuesday, halting the positive trend set at the start of the week, as investors monitored hopes for a coronavirus vaccine and outlooks for economic recovery.
European markets
The pan-European Stoxx 600Â reversed earlier gains to slide 0.5%. Autos tumbled 1% to lead losses while insurance stocks bucked the negative trend to edge 0.3% higher.
On the data front, new EU car registrations fell 76.3% in April, from the same month a year ago, according to data published Tuesday from the European Automobile Manufacturers Association (ACEA).
Germany's closely-watched ZEW survey of economic sentiment for May showed a much greater-than-expected improvement on Tuesday, with consumers hoping for an economic recovery in the second half of the year as Europe's largest economy looks to exit lockdown measures.
It comes amid growing hopes of a potential coronavirus vaccine after a positive development from a Moderna trial. Â
Stocks in Asia jumped on Tuesday after Moderna reported "positive" phase one results for a potential coronavirus vaccine. The company said that after two doses, all 45 trial participants had developed coronavirus antibodies.
On Wall Street Tuesday, the Dow Jones Industrial Average fell after the market scored its best session in six weeks a day earlier on rising optimism about a vaccine.
Biggest movers
In terms of individual share-price action, digital payment provider Network, UDG Healthcare and Evolution Gaming all surged more than 5%.
Beazley stock climbed more than 7% after the British insurance group's share placing.
At the other end of the Stoxx 600, French mall operator Klepierre tumbled more than 12% while Spain's Banco de Sabadell and French food services company Sodexo both shed more than 10%.