European Stocks Edge Up, Earnings in Focus

European stocks experienced modest gains on Tuesday, with the STOXX 50 and STOXX 600 each rising by 0.1%. Investors were primarily focused on corporate earnings, while also anticipating significant developments such as tomorrow’s decision on monetary policy from the Federal Reserve. Market attention remained on international trade discussions, particularly those between the US and various Asian countries.

Among notable earnings reports, Continental shares surged approximately 4% after the company recorded its highest sales in four years. Vestas saw a 6% increase, buoyed by a return to profitability in the first quarter, and Hugo Boss climbed nearly 7% following strong revenue results. Conversely, Philips fell by 1.8% due to a downgraded profitability forecast, while Covestro slipped 0.2% after amending its full-year earnings expectations. Additionally, Deliveroo rose by 2% in response to US-based DoorDash’s agreement to acquire the British firm for nearly £2.9 billion. Meanwhile, BP saw a rise of about 2.8% following reports of Shell evaluating its competitor, though Shell itself experienced a 1% decline.

The material has been provided by InstaForex Company – www.instaforex.com