European equity markets were set to open slightly lower on Tuesday, extending losses from the previous session as rising global bond yields and elevated oil prices heightened concerns over persistent inflation and the prospect of imminent interest rate hikes. The Euro area 10-year government bond yield climbed to around 3.64%, its highest level since April 2011, with the European Central Bank expected to deliver a 25 basis point rate hike at its September 9-10 policy meeting. Meanwhile, investors will assess Eurozone and Italian inflation, German retail sales and UK housing prices data, along with manufacturing PMI reports from across the region. No major earnings releases are scheduled in Europe on Tuesday. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures were both down about 0.1%.