Decline of European Stocks

European stocks opened slightly lower on Tuesday as declines in real estate company shares offset gains made by retail stocks, led by British retailer Marks & Spencer, which raised its profit forecasts. By 07:20 GMT, the pan-European Stoxx 600 index fell by 0.1% as real estate stocks dropped nearly 1% in early trading. Typically, real estate sector stocks are considered competitors to bonds in terms of yield increases and stability. Bond yields across Europe surged, particularly in the UK, after data showed a rise in core wages to a record growth rate in Britain. Among the gaining stocks, Marks & Spencer's shares jumped 8.4%, leading the Stoxx 600 index after the company raised its profit forecasts. The broader retail sector index increased by 0.7%. Additionally, Pandora's shares rose by 3.5% after the Dutch jewelry manufacturer updated its full-year revenue forecasts, exceeding sales expectations for the second quarter.