European equities retreated on Tuesday, with the STOXX 50 down 1% and the STOXX 600 off 0.6%, as investors positioned ahead of the US midterm elections and digested a new batch of corporate earnings. Sentiment was further dampened by Apple’s weaker margin guidance and softer-than-expected iPad sales. A rise in oil prices, following reports that the US had struck Iran’s Qeshm Island, also weighed on risk appetite.
Technology names were among the hardest hit, mirroring a broader global tech sell-off. ASML Holding dropped 3%, SAP declined 2.1% and Infineon Technologies fell 3.4%. Mining and banking shares also came under pressure, with Banco Santander down 2.4%, Siemens Energy losing 2.3% and Rolls-Royce shedding 2%.
By contrast, a handful of stocks bucked the downtrend. Bayer advanced 6% after the group raised its profit guidance for 2026, while Philips jumped more than 4% after reporting earnings that exceeded analysts’ expectations.
