European stocks fell under pressure from the decline in real estate stocks

European stocks opened slightly lower on Tuesday, as declines in real estate stocks amid higher bond yields offset gains in retail stocks, led by British department store Marks & Spencer, which raised its profit forecasts.

And by 0720 GMT, the European Stoxx 600 index fell 0.1 percent, with real estate stocks falling nearly 1 percent in early trading. Stocks in the real estate sector are usually considered to be among the competition stocks for bonds with regard to the high and stability of returns.

Bond yields jumped across Europe with stocks rising in Britain after data showed basic wages rose in Britain to reach a new record growth rate.

Among the gainers, Marks & Spencer jumped 8.4 percent to lead the Stoxx 600 index after the company raised its profit forecast.

The broader retail sector index rose 0.7 percent.

Pandora shares rose 3.5 percent after the Dutch jewelry maker raised its full-year revenue forecast as second-quarter sales beat analysts’ expectations.