- Frances Hudson, global strategist at Standard Life Investments
European stocks closed lower on Tuesday hit by concerns over Spain's ability to tackle its deficit.
The Stoxx Europe 600 Index erased 1.07 per cent to 264.29. Germany's DAX Index fell 1.05 per cent and France's CAC 40 Index retreated 1.62 per cent. The U.K.'s FTSE 100 Index declined 0.62 per cent to 5,838.34.
"It is very hard to see how Spain can have a sustainable recovery, debt levels are high in the country and also with unemployment, rising growth will be difficult," Frances Hudson, global strategist at Standard Life Investments, said.
"We could see some sideways trading, or even a bit of position squaring, before markets head into Easter holidays," said Alessandro Fezzi, a senior market analyst at LGT Capital Management AG in Pfaeffikon, Switzerland.
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