This is CNBC's live blog covering European markets.

European markets closed lower on Tuesday, with global sentiment subdued this week as investors weigh future policy from global central banks.

The pan-European Stoxx 600 closed down 0.6%, with most sectors and major bourses finishing in the red.

Tech stocks led losses, shedding 1.5%, followed by financial services, which was down 1.4% and health care, which dipped by 1.1%.

The muted trade in Europe comes after markets in the Asia-Pacific region were mixed overnight, while Wall Street sold off Monday on fears that the U.S. Federal Reserve will keep increasing interest rates.

Market observers are still largely expecting a 50 basis point increase to interest rates at the Fed's December meeting next week. U.S. stocks tumbled again on Tuesday.

The euro and pound are likely to ‘revisit their extreme lows’ in 2023, strategist says

The euro and pound are likely to "revisit their extreme lows" in 2023, Ron William of RW Advisory told CNBC.

William discussed the outlook for the currencies on CNBC's "Squawk Box Europe" Tuesday.

French President Emmanuel Macron says it's 'absurd' to fear power chaos

French President Emmanuel Macron said it was "absurd" to be concerned about power blackouts in France this winter as he insisted the country would get through the cold weather despite the Europe-wide energy crisis.

"We must not scare people. We must stop all that," Macron said as he arrived at a European Union summit in Albania, according to Reuters.

"We will get through this winter, despite the war [in Ukraine]," he said.

France's power network is already being tested as state-run utility company EDF rushes to get its nuclear reactors back online following corrosion problems.

— Hannah Ward-Glenton

The worst is over for gas supply security issues, portfolio manager says

The worst is over for gas supply security issues, according to Per Lekander, managing partner and portfolio manager at Clean Energy Transition.

Lekander discussed his outlook for European energy on "Squawk Box Europe" on Tuesday.

Stocks on the move: ADP down 12%, Darktrace down 6%

Aeroports de Paris (ADP) shares plunged more than 12% by mid-afternoon, after Royal Schiphol sold off its remaining stake 3.91% stake in the company at a discount price.

Anglo-American cybersecurity firm Darktrace fell more than 6%.

- Elliot Smith

UK construction growth slows in November

U.K. construction industry growth slowed in November as rising interest rates and a darkening economic backdrop began to drag on building projects.

The S&P Global/CIPS U.K. construction PMI (purchasing managers' index) fell to a three-month low of 50.4 from 53.2 in October, hovering just above the 50 mark separating growth from contraction. Economists in a Reuters poll had projected a reading of 52.0.

- Elliot Smith

Stocks on the move: Ashtead up 4%, ADP down 13%

Aeroports de Paris (ADP) shares plunged more than 13% in early trade after Royal Schiphol sold off its remaining stake 3.91% stake in the company at a discount price.

At the top of the European blue chip index, Ashtead Group climbed more than 4% after the British equipment rental company raised its full-year guidance on the back of strong quarterly earnings.

- Elliot Smith

ECB chief economist says rates will rise further, but inflation is nearing a peak

European Central Bank Chief Economist Philip Lane says interest rates will need to rise several more times to rein in inflation, but that price increases in the euro zone are nearing a peak.

In an interview published Tuesday, Lane told Italian newspaper the Milano Finanza that it remains uncertain whether this peak has already arrived or is due in early 2023.

"The main uncertainty is that we've seen so much volatility in gas prices. In some countries, consumer prices have moved a lot, while in others for example some utility companies have not yet finished hiking prices," Lane said.

"Given the significant increase in prices, I don't rule out some extra inflation early next year. Once we are past the initial months of 2023, later on in 2023 – in the spring or summer – we should see a sizeable drop in the inflation rate."

- Elliot Smith

German industrial orders beat expectations in October

German industrial orders rose by 0.8% month-on-month in October on a seasonally and calendar-adjusted basis, the country's federal statistics office said Tuesday.

The reading vastly outstripped expectations for 0.1% in a Reuters poll of analysts, and showed a marked improvement from a 2.9% fall in September.

- Elliot Smith

CNBC Pro: Fund manager says a 'turning point' for Big Tech is near. Here's what he's watching

A fund manager has said that a "super week for a potential turning point" in the Nasdaq Composite could be on the horizon.

The tech-heavy Nasdaq has declined by 26.2% this year as the Federal Reserve increased borrowing costs in an effort to bring inflation under control.

Julian Howard, multi-asset investment director at GAM, told CNBC what catalyst to look out for and when it might be a good time for tech investors to re-enter the market.

CNBC Pro subscribers can read more here.

— Ganesh Rao

CNBC Pro: Analysts think these November winners can rally further — and give 2 more than 160% upside

These global stocks had a winning November, outperforming the MSCI World index.

CNBC Pro screened FactSet for stocks that not only did well last month, but could still see more upside ahead.

Pro subscribers can read more here.

— Zavier Ong

CNBC Pro: Morgan Stanley turns bullish on China stocks, giving them serious upside potential

Morgan Stanley has turned bullish on China stocks for the first time in nearly two years as the country embarks on a "clear path set towards reopening."

"We see a steep climb from here following the extreme underperformance of the last two years," the bank said, although it cautioned the path to recovery "will be bumpy." 

Morgan Stanley highlighted a list of names that it said will benefit from the easing in China, including two it gave around 130% upside.

CNBC Pro subscribers can read more here.

— Weizhen Tan

European markets: Here are the opening calls

European markets are heading for a lower open on Tuesday with global sentiment generally downbeat this week.

The U.K.'s FTSE index is expected to open 7 points lower at 7,549, Germany's DAX 24 points lower at 14,423, France's CAC down 18 points at 6,678 and Italy's FTSE MIB down 47 points at 24,574, according to data from IG.

Data releases include Germany's industrial orders for October. There are no major earnings.

— Holly Ellyatt