Europe stocks close higher as investors monitor earnings; THG down 21%
LONDON — European stocks closed higher on Tuesday, as positive corporate earnings offered a tailwind to global markets
| TICKER | COMPANY | NAME | PRICE | CHANGE | %CHANGE | VOLUME |
|---|---|---|---|---|---|---|
| .FTSE | FTSE 100 | *FTSE | 7277.62 | 54.8 | 0.76 | 670406886 |
| .GDAXI | DAX | *DAX | 15757.06 | 157.83 | 1.01 | 56055949 |
| .FCHI | CAC 40 Index | CAC | 6766.51 | 53.64 | 0.8 | 79339629 |
The pan-European Stoxx 600 closed up by 0.8%, with travel and leisure stocks jumping 1.9% to lead gains with most sectors and major bourses firmly in positive territory
On Wall Street, U.S. stocks climbed to record levels as traders reacted to a strong set of quarterly results from major companies. Tech behemoths Alphabet and Microsoft are due to report after the bell
In Asia, equities closed mostly higher overnight, with electric vehicle battery makers surging after car rental giant Hertz said it would order 100,000 vehicles from Tesla by the end of 2022
European traders were reacting to a busy morning of earnings, with Novartis, Thales, Reckitt Benckiser and Covestro among those reporting before the bell
Swiss bank UBS beat analyst expectations in the third quarter on a boom in wealth management, reporting net profit attributable to shareholders of $2.3 billion. UBS shares added 1.3% by the close
Swiss-American computer peripherals maker Logitech on Tuesday reported an increase in second-quarter sales on the back of surging demand from home workers. On Monday, specialty tire manufacturer Michelin posted better-than-expected third-quarter sales
In other corporate news, Europe’s largest retailer Carrefour is set to launch a new rapid grocery delivery service alongside Uber in Paris, the two companies announced Tuesday. Carrefour shares climbed 0.9%
Global investors are still assessing concerns about above-trend inflation and below-trend economic growth, which have prompted fears of stagflation or monetary policy errors
