LONDON Jan 22 European shares edged lower on Tuesday, keeping within their tight range as investors awaited a cue from key U.S. earnings releases later in the day before attempting fresh push towards new 2-year highs.
European indexes struggled for direction ahead of results from U.S. bellwethers such as Google, IBM and J&J, which would provide indications on the outlook for corporates worldwide after a positive start to the U.S. earnings season.
"Everybody is looking at these numbers," Mark Priest, senior trader at ETX Capital said.
"The reporting season has been pretty successful in America and I think that's what helps keeping the market up."
The FTSEurofirst 300 index of top European shares was 0.1 percent lower at 1,164.84 points at 0811 GMT, slipping away from a near-two-year high of 1,170.29 hit on Jan. 10.
Britain's FTSE 100, Germany's Dax and France's Cac all hovered around the gain line.
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What seemed like a possibility for the Nifty to cross the 8,000 mark just two weeks ago has now turned out to be a far-fetched dream. A 7,950-8,000 range could be used to book partial profits and re-enter closer to 7,750-7,800 for the next couple of weeks. The next big trigger would be the arrival of monsoons, writes Ambareesh Baliga. Read