European equities are generally on an upward trajectory this Tuesday, bouncing back from recent declines as market participants anticipate corporate earnings announcements and await new economic data, including critical U.S. inflation figures.
Concerns over potential tariff increases and doubts surrounding interest rate cuts continue to exert pressure, thereby capping potential market gains.
At the same time, attention is also on France, where newly appointed Prime Minister François Bayrou is set to deliver his inaugural speech in Parliament.
The pan-European Stoxx 600 index has climbed by 0.33%. In Germany, the DAX index is up by 0.84%, while France's CAC 40 has increased by 0.86%. On the other hand, the U.K.'s FTSE 100 has slightly dipped by 0.07%, and Switzerland's SMI has risen by 0.36%.
In the British market, Persimmon has surged nearly 6%, buoyed by a 7% rise in home completions. The company also anticipates its profit figures to touch the higher end of forecasts.
Ashtead Group is seeing a gain of 4%, and Airtel Africa has risen by 3%. Other companies like Vistry Group, IAG, Barratt Developments, Redrow, Convatec Group, Taylor Wimpey, Informa, Hikma Pharmaceuticals, and Scottish Mortgage are up by 1.5% to 2.3%.
However, JD Sports Fashion has dropped over 8% following a revision in its profit forecast. The stock plummeted to almost a five-year low after the company announced a reduction in its pretax profit guidance by about 4% compared to consensus estimates.
BP has decreased by approximately 3.2%, after cautioning investors of an expected $100-$300 million reduction in fourth-quarter profits due to weaker refinery margins and lower production levels.
Other notable declines in the UK market include Next, British American Tobacco, GSK, Centrica, Tesco, Diageo, Croda International, and ICP, all down between 1.3% and 2%.
In Germany, Daimler Truck Holding, Siemens Energy, Deutsche Bank, Siemens Healthineers, BASF, Commerzbank, Merck, and Infineon are experiencing gains of 1.5% to 3%.
Elsewhere, SAP, Volkswagen, BMW, Mercedes-Benz, Fresenius, E.ON, HeidelbergCement, and Deutsche Boerse are showing improvements of 1% to 1.3%.
The French market sees Michelin, Teleperformance, Safran, Credit Agricole, Renault, and LVMH advancing by 2% to 3%. Other notable gainers include BNP Paribas, Hermes International, Veolia, Stellantis, Carrefour, Thales, and Airbus Group.
Conversely, Eurofins Scientific has declined nearly 3%. STMicroElectronics is down by 1.3%, and Kering has fallen by around 1.2%. Additional declines are observed in Sanofi and TotalEnergies.
