Europe: Stocks Gain for 3rd Session.
European stocks inched higher on Tuesday with support from corporate earnings and another pullback in energy prices. The Euro STOXX 50 added 0.2% to 6,294 and the STOXX Europe 600 gained 0.4% to 647. LVMH gained 1% reporting broadly in-line sales growth. Unilever surged 8.5% after raising its full-year sales guidance, while Mercedes-Benz climbed 2.9% after posting a profit beat despite a sharp drop in deliveries in China. Also, Safran rebounded from early losses and advanced 3% after results. Orange also gained 3.1% after upgrading its annual profit outlook. On the downside, Barclays fell 5.6% after posting its balance sheet. Meanwhile, the technology sector remained under pressure globally, with renewed concerns over AI-related spending weighing particularly on semiconductor stocks. ASML extended its recent losses, falling 3%, after reports that a Chinese state-backed company has started mass-producing certain chipmaking equipment.