28.07.202607:34:51UTC+00European Stocks Rise, Earnings in Focus

The STOXX 50 rose 0.3% and the STOXX 600 added 0.1% on Tuesday, as investors digested a new wave of corporate earnings and welcomed another pullback in oil prices, with the lull in tensions between the US and Iran appearing to hold. LVMH gained 2.6% after posting broadly in-line sales growth. Unilever jumped 5% after raising its full-year sales guidance, and Mercedes-Benz climbed 4.3% following a profit beat despite a sharp decline in deliveries to China. Orange advanced 3.1% after upgrading its annual profit outlook. On the downside, Barclays dropped 4.9% and Safran slipped 1% after their earnings failed to impress investors. Globally, the technology sector remained under pressure, with renewed worries over AI-related spending weighing particularly on semiconductor names. ASML extended its recent losses, edging down 0.5%, after reports that a Chinese state-backed company has begun mass-producing certain chipmaking equipment.