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European Stocks Set to Open Lower, Banks in Focus

European equities are seen opening down on Tuesday after the previous day's 2 percent jump, with UK bank Barclays in the spotlight as it reports results with several headwinds facing the sector.

Asian stocks rose, boosted by exporters and banks, while U.S. markets resume trading with results due from Wal-Mart Stores and Hewlett-Packard.

On the economic data front, Chinese consumer inflation surged in January to an 11-year high of 7.1 percent and looked set to rise further, cementing expectations Beijing will stick to a tight monetary policy despite softening economic growth.

Financial bookmakers expect major European share indexes to open between 0.2 to 0.5 percent lower.

The pan-European FTSEurofirst 300 index is still down more than 11 percent this year, hit by U.S. recession worries and a slump in banks awash with losses clinked to a credit crunch.