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European stocks rise on solid earnings
European stocks rose slightly on Tuesday, supported by positive earnings reports from major companies in the consumer goods and luxury sectors, as well as an increase in Mercedes-Benz’s profits despite their lowered sales forecast for 2026. The STOXX 600 index gained 0.2%, with Unilever’s shares jumping 6% and LVMH’s sales rising 2.6% due to rising demand for their luxury products. Meanwhile, Philips’ stock declined by 8.5% despite its optimistic quarterly results, and market sentiment was affected by rising bond yields amid concerns over the continued rise in interest rates sparked by the European Central Bank’s statements, as investors awaited the Federal Reserve’s decision.
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