European Stocks Close On Mixed Note

(RTTNews) - European stocks closed on a mixed note on Tuesday with investors assessing quarterly earnings updates, and looking ahead to some key economic data from the U.S., including readings on inflation said to be preferred by the Federal Reserve.

Investors also continued to assess the political situation in the U.S., where Vice President Kamala Harris looks set to secure the nomination for presidency.

The pan European Stoxx 600 edged up 0.13%. Germany's DAX climbed 0.82%, while the U.K.'s FTSE 100 and France's CAC 40 lost 0.38% and 0.31%, respectively. Switzerland;s SMI ended down 0.15%.

Among other markets in Europe, Finland, Greece, Iceland, Netherlands, Norway, Poland and Turkiye closed weak.

Denmark, Spain and Sweden ended higher, while Austria, Belgium, Portugal and Russia closed flat.

In the UK market, Compass Group rallied more than 4.5% after upgrading its full-year profit and revenue guidance.

Rolls-Royce Holdings climbed 3.77% and Melrose Industries gained 2.07%. Beazley, Marks & Spencer, JD Sports Fashion, Centrica, ICG, Sage Group and Lloyds Banking Group gained 0.9 to 2%.

Glencore, Anglo American Plc, Londonmetric Property, Airtel Africa, Prudential, Segro, Shell, BP, DCC, Rio Tinto, Smith (DS), Land Securities, Hargreaves Lansdown, Antofagasta and Phoenix Group Holdings lost 1 to 2.3%.

Hikma Pharmaceuticals ended notably lower. The company announced that its unit Hikma Pharmaceuticals USA, Inc. is extending recall of one lot of Acetaminophen Injection, 1000mg/100mL, (10mg/mL) bags to the consumer/user level.

In the German market, Sartorius surged 7.7%. SAP gained about 7.15% after adjusted profit for the second quarter came in above expectations.

Fresenius climbed nearly 4.5%. MTU Aero Engines, Merck, Fresenius Medical Care, Siemens Energy and Deutsche Bank gained 1.4 to 2.3%.

Porsche ended more than 5% down. The luxury car maker cut its full-year revenue forecast and warned of impairments in production spurred by a supply shortage.

Daimler Truck Holding ended lower by 4.4%. Infineon drifted down 3.3%. Bayer, Continental, BMW, Deutsche Post, Volkswagen and Symrise ended lower by 0.9 to 1.25%.

In the French market, Safran climbed about 2.3%. Schneider Electric and Accor gained 1.25% and 1.1%, respectively.

Edenred tanked more than 13%. Thales ended down 6.7% despite reporting slightly better-than-expected half-year operating profit.

Stellantis, STMicroElectronics, Teleperformance, Eurofins Scientific, Unibail Rodamco, TotalEnergies, ArcelorMittal, Bouygues, Kering, L'Oreal and Renault lost 1 to 2.7%.

On the economic front, Euro area consumer confidence strengthened for a sixth month in a row in July as households look forward to, yet another interest rate cut from the European Central Bank in September.

The flash consumer confidence index rose to -13.0 from -14.0 in June, survey data from the European Commission showed. Economists had expected a reading of -13.0. The latest reading was the highest since February 2022, when it was -9.4.