Investors on the German stock market are still looking for direction. The leading German index was down 0.2 percent at 18,710 points on Tuesday morning.

Ahead of the US inflation figures expected on Wednesday, many investors were reluctant to take cover. "A persistently high US interest rate level is and remains one of the biggest fears of market participants," said Carsten Mumm, Chief Economist at private bank Donner & Reuschel. "We assume that this week will again be accompanied by disappointed inflation and interest rate hopes and that the recent approach to new all-time highs on the stock markets will end for the time being."

Investors also had a number of company balance sheets to digest. Shares in Rheinmetall fell by 5.8 percent. At 1.58 billion euros, the armaments group's sales in the first quarter fell short of analysts' average estimates of 1.68 billion euros. Brenntag shares fell by 7.4 percent. The specialty chemicals group felt the effects of price pressure and weak demand in some markets in the quarter and recorded a slump in profits.

By contrast, Delivery Hero saw a rapid upward trend. The shares gained more than 21 percent. In a deal worth billions, Uber is joining Delivery Hero and taking over its Taiwan subsidiary from the food delivery company.

(Report by Anika Ross, edited by Ralf Banser. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)