European markets declined modestly on Tuesday morning as a wave of earnings releases is eagerly awaited by investors, and as broker advice to sell four leading oil producers weighed on the sector. The subprime mortgage problem is also hurting banks. Deutsche Bank AG and Allianz led banks lower, while of dollar-sensitive stocks, Siemens slipped. All three major markets were lower with the U.K. FTSE 100 index off 0.4%, the German DAX index slipping 0.6% and the French CAC-40 index losing 0.3%.
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