European Stocks Rebound
European stocks closed higher on Tuesday, rebounding from losses in the previous session as a batch of optimistic corporate earnings weighed against unilateral tariffs from the US.
The Eurozone's STOXX 50 added 0.7% to 5,376 and the pan-European STOXX 600 rose by a softer 0.2% to 550, weighed Novo Nordisk shares. EssilorLuxotica surged 6.4% after reporting a higher operating profit, despite facing tariff-related headwinds.
Banks also performed well after a period of more muted movements, with Santander, BBVA, and Intesa Sanpaolo each gaining more than 2%. In turn, Stellantis recouped sharp losses from earlier in the session and closed marginally in the green after reporting a first-half net loss of €2.3 billion.
Outside the Eurozone, AstraZeneca gained 3.5% following its earnings release, and Barclays posted better-than-expected profits and announced a £1 billion share buyback. On the other hand, Novo Nordisk plunged 22% after issuing a profit warning and changing its CEO.
Source : Trading Economics