Europe open: Shares slip as China trade data dampens rally

(Sharecast News) - European shares opened lower on Tuesday as another China-inspired rally fizzled out after optimism around further stimulus for the world's second-largest economy was tempered by downbeat trade data. The pan-regional Stoxx 600 index was down 0.34% to 519 in early deals. Chinese officials on Monday pledged to ramp up stimulus measure to spur growth next year after a weak inflation readout.

However, the latest trade data showed a rapid slowdown in exports during November, while imports unexpectedly contracted.

Elsewhere, German inflation was confirmed at 2.2% last month, marking a rise from October's 2%.

Energy prices fell by 3.7% compared with the previous year, while food prices rose by 1.8% year-on-year in November.

In equity news, shares in Ashtead plunged as the equipment hire group warned on profits and said it was moving its listing to the US.

Westfield mall owner Unibail-Rodamo-Westfield fell after a shareholder sold shares in a secondary accelerated bookbuild.

Reporting by Frank Prenesti for Sharecast.com