FX.co ★ European Stocks Edge Up

European stock markets experienced a slight uptick on Tuesday, with both the STOXX 50 and the STOXX 600 indices advancing by approximately 0.2%, building on gains from the previous session. Investor sentiment was buoyed by increasing anticipation of an interest rate cut by the Federal Reserve next month. The banking sector emerged as a standout performer, with Barclays climbing 3.1%, Societe Generale gaining 1.8%, and Commerzbank rising 0.8%. ABN AMRO saw a significant increase of over 4% following the announcement of plans to reduce its workforce by 5,200 positions by 2028, aiming to enhance operational efficiency and cut costs. The technology sector also saw gains, powered by increases in ASML Holding (1.3%) and Infineon (2.5%). Additionally, defense stocks made a recovery, with Rheinmetall rising by 2.3% and Leonardo by 1.9%. In other developments, Kingfisher surged by 5.7% and was among the top performers on the STOXX 600, after it raised its full-year profit forecast. Meanwhile, traders remained attentive to the situation in Ukraine, as a conference of leaders from the "coalition of the willing" was scheduled to take place today to discuss further peace negotiations.