European equities closed lower on Tuesday as investors reacted to a slew of earnings news and economic data.

The U.K.’s FTSE 100 (FTSE International: .FTSE) index closed provisionally down 0.6 percent. The German DAX (^GDAXI) and the French CAC (Euronext Paris: .FCHI) closed down unofficially 1.0 percent and 0.8 percent.

Barclays (London Stock Exchange: BARC-GB)‘ shares closed around 3.2 percent lower on Tuesday, after the bank said it had put aside £750 million ($ 1.2 billion) in the last quarter for any potential regulatory fines for alleged foreign exchange market manipulation. The lender reported a better-than-expected adjusted pretax profit for 2014, but a statutory net loss.

Read More Barclays adds to litigation provisions as profits rise

On the data front, euro zone producer prices fell at their fastest rate since November 2009 in January. This further added to concerns about the deflationary environment in the bloc.

Elsewhere, Spain announced a sharp drop in jobless claims during January; Germany reported a rise in retail sales for January. Swiss gross domestic product numbers also showed a rise of 0.6 percent in the fourth quarter, compared to the quarter before.

Travis Perkins (London Stock Exchange: TPK-GB)‘ shares closed down roughly 4.0 percent, despite it reporting a jump in earnings. Analysts at Panmure Research said the results “provided few surprises.”

Shares of Glencore (London Stock Exchange: GLEN-GB) slipped closed around 3.1 percent lower after it announced a $ 1.1 billion charge due to falling commodity prices.

Meanwhile, Taylor Wimpey (London Stock Exchange: TW.-GB) shares closed around 2.1 percent higher after the housebuilder highlighted strong demand in the U.K., as the industry prepares for the spring selling season.

Meanwhile, U.S. stocks traded lower, following a close at record highs on Monday, amid auto sales data and stabilization in oil prices.

CNBC’s See Kit Tang, Katy Barnato and Evelyn Cheng contributed to this report.

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