European Shares Surge Amid Earnings Deluge

(RTTNews) - European stocks were moving higher on Tuesday as investors reacted to a barrage of earnings results and looked forward to the Federal Reserve's rate decision on Wednesday for directional cues.

Oil prices extended declines to touch a one-week low amid easing West Asia tensions after U.S. President Donald Trump claimed that Washington has engaged in "good talks" with Tehran.

The pan-European STOXX 600 was up 0.4 percent at 646.93 after ending little changed on Monday.

The German DAX gained 0.6 percent, France's CAC 40 added half a percent and the U.K.'s FTSE 100 was up 0.6 percent.

In corporate news, Sulzer shares jumped nearly 7 percent. The Swiss industrial equipment maker confirmed its 2026 guidance after reporting first-half results in line with expectations.

Construction chemicals maker Sika advanced 6.4 percent after upgrading its full-year growth expectations.

Automakers were broadly higher, with Volkswagen, Renault and Mercedes Benz rising 2-3 percent following reports that France and Germany are pursuing a new initiative to revive the auto industry.

British hedge and alternative fund giant Man Group surged 6 percent after reporting record assets under management for the half year ended June 30.

Frasers Group gained 1 percent. The retailer said that it has extended its offer period to take over German fashion house Hugo Boss.

Student accommodation provider Unite Group fell 1.6 percent after reporting a 2 percent year-on-year decline in first-half earnings.

Lender Barclays slumped 4.5 percent after reporting increased operating costs in the second quarter.

Unilever surged 7 percent. The consumer goods company reported its best quarter of sales volume growth in 16 years and raised its annual sales outlook.

Rexel, a French distributor of electrical products, tumbled 4 percent despite raising its annual outlook.

Luxury giant LVMH dropped 1.4 percent after first-half revenue dipped 3 percent on a reported basis.

Telecommunications operator Orange rallied 3 percent after raising its annual profit outlook.

Air Liquide lost 3 percent. The industrial gases group confirmed its margin outlook after reporting modest revenue growth in the first half of 2026.

Tyre manufacturer Michelin declined 2.4 percent after reporting flat first-half earnings.

Jet engine maker Safran climbed 2.7 percent after reporting strong first-half profit and lifting its FY26 guidance.

German software company TeamViewer rose 1.2 percent, reversing an early loss after reporting largely flat first-half results.

Dutch health technology company Philips plunged more than 10 percent after reporting weaker order growth in its second quarter.