Sigma Capital

23-04-2025

European Stocks Close Higher

Source: MIST

Trading Economics-


European stocks reversed early losses to close higher on Tuesday, benefitting from the rebound in US equities as markets continued to assess how risks of lower trade with the US may impact European corporate giants. The Eurozone's STOXX 50 added 0.4% to close at 4,956 and the pan-European STOXX 600 advanced 0.2% to close at 508. Auto producers were among the top gainers of the session, with Mercedes Benz, BMW, and Volkswagen all adding more than 2%. In the meantime, Banks were firmly higher with BNP Paribas, Intesa Sanpaolo, and ING gaining around 1.5%, although UniCredit slumped nearly 3% after the Italian government placed restrictions on the lender's bid to acquire Banco BPM. On the earnings front, L'Oreal surged by over 6% after posting strong results. Outside the Eurozone, Novo Nordisk sank more than 7% after US rival Eli Lilly reported strong results on its new weight-loss drug.