European stocks traded mixed on Tuesday as miners declined on China demand concerns, offsetting gains in the technology sector following robust earnings from SAP and Logitech.
Upcoming U.S. economic data and earnings from Tesla Inc. and Alphabet Inc. also remain in the spotlight.
The pan European STOXX 600 was up 0.2 percent at 515.58 after posting its best day in more than a month on Monday.
The German DAX climbed 0.6 percent, while France’s CAC 40 and the U.K.’s FTSE 100 were down around 0.1 percent each.
Miners Anglo American, Antofagasta and Glencore dropped 1-2 percent, tracking a fall in copper prices on China demand concerns.
Water firm Pennon Group slipped 1.1 percent and United Utilities shed 0.6 percent after Britain’s Environment Agency announced further plans to increase company compliance checks and quadruple inspections.
Caterer Compass jumped more than 5 percent after upgrading its full-year profit and revenue guidance.
Hikma Pharma dropped 1.2 percent. The company announced that its unit Hikma Pharmaceuticals USA, Inc. is extending recall of one lot of Acetaminophen Injection, 1000mg/100mL, (10mg/mL) bags to the consumer/user level.
Swiss computer parts maker Logitech International rallied 2.3 percent after raising its full-year sales and profit outlook.
SAP, Europe’s largest software maker, surged 6.5 percent after adjusted profit for the second quarter came in above expectations.
Porsche AG slumped 4.2 percent. The luxury car maker cut its full-year revenue forecast and warned of impairments in production spurred by a supply shortage.
Alfa Laval AB, a specialty industrial machinery company, gained 1 percent after reporting a rise in Q2 earnings and sales.
Thales, Europe’s largest defense electronics company, plunged 4.7 percent despite reporting slightly better-than-expected half-year operating profit.
European Shares Mixed In Cautious Trade
2024-07-23 09:33:27
