LONDON (Reuters) - European shares retreated early on Tuesday as disappointing earnings updates weighed on banks and pharma firms, though a well-received update from Vodafone (LON:VOD) helped the FTSE 100 touch a record high.
The pan-European STOXX 600 index was down 0.1 percent, and Germany's DAX traded flat.
The FTSE 100 index rose 0.2 percent, however, buoyed by a 3.6 percent rise in Vodafone, which jumped after reporting its full-year earnings.
Healthcare was among the weakest European sectors, dragged down by a near 8-percent drop in BTG's shares after the biotech firm published its full year figures.
Likewise disappointing updates also hit shares in budget airline easyJet (LON:EZJ), support services firm DCC (LON:DCC) and lender CYBG, which were all weaker.
Banking stocks were the biggest weight, with Spain's Banco Popular down more than 4 percent and UBS falling nearly 2 percent, extending losses from the previous session after Singapore sovereign wealth fund GIC Private Limited cut its stake in the Swiss bank at a loss.