European stocks rise on strong earnings

European stocks modestlyrose on Wednesday amid investors' focus on corporate earnings and increasing tensions in the Middle East. The Stoxx 600 index edged up by 0.07% and touched a session high after closing at an all-time high the day before, while most other indices remained relatively unchanged. Despite geopolitical tensions, company fundamentals continued to drive the market, with the energy sector rising by 0.6% alongside higher oil prices—particularly after Houthi attacks on a Saudi oil tanker in the Red Sea, which pushed Brent prices up to $80.39 per barrel. Additionally, record-breaking results from Siemens Energy supported the energy sector. Mining stocks gained 1.4% as gold prices climbed, whereas bank shares fell by 0.9%. Novo Nordisk declined despite raising sales and profit forecasts, due to weak sales of new obesity medications and its underperformance.