Europe Stocks Pause For Breath, Carnival Sinks

European stock markets nudged lower in early trade on Tuesday, taking a breather after climbing to multiyear highs in the prior day’s session. The Stoxx Europe 600 index lost 0.1% to 309.44, retreating from the highest closing level since June 2008, reached on Monday.

Shares of cruise-ship operator Carnival PLC sank 16%, after the firm late Monday slashed its full-year guidance. Deutsche Bank AG dropped 1.5%, after J.P. Morgan Cazenove cut the bank to neutral from overweight. Among country-specific indexes, Germany’s DAX 30 index shaved off 0.3% to 8,429.41, while the U.K.’s FTSE 100 index slipped 0.1% to 6,749.64. France’s CAC 40 index fell 0.3% to 4,009.93.

Marketwatch