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European stocks open lower, snap 5-day rally; Dax down 0.49%

© Reuters. Frankfurt Stock Exchange - European stocks opened lower on Tuesday, as markets took a breather after a five-day winning streak and investors continued to focus on second-quarter earnings.

During European morning trade, the EURO STOXX 50 declined 0.78%, France’s CAC 40 retreated 0.86%, while Germany’s DAX 30 slid 0.49%.

European equities had found support on Monday after data showed that the euro zone's manufacturing sector continued to expand at a steady pace at the start of the third quarter.

Continuing expansion in Germany, Spain and Italy offset a record contraction of the Greek manufacturing sector last month after capital controls were imposed to avert a collapse of the country's financial system.

The Athens...