Earnings boost STOXX 600 to one-week high

(Reuters) - Europe's benchmark index touched a one-week high on Tuesday, driven by earnings from major players in the region, while investors awaited earnings from Alphabet (NASDAQ:GOOGL ) later in the day.

The pan-European STOXX 600 ticked 0.2% higher by 0810 GMT, after opening at its highest level since Oct. 21.

HSBC Holdings (NYSE:HSBC ) rose 2.9% after the Asia-focused bank reported a better-than-expected third-quarter profit and also said it would buy back shares worth up to $3 billion.

The banking sector rose 0.7%.

Adidas (OTC:ADDYY ) gained 1.7% after the sportswear maker said it saw strong underlying growth in Greater China in the third quarter.

On the other hand, BP (NYSE:BP ) lost 0.8% after the energy giant reported third-quarter profit of $2.3 billion, their lowest in almost four years.

Novartis (SIX:NOVN ) fell 3.7%, despite the Swiss drugmaker raising its 2024 earnings guidance for the third time.

German consumer sentiment increased more than expected going into November, rising to -18.3 points from a slightly revised -21.0 the month before. The country's benchmark DAX ticked 0.5% higher.



Meanwhile, Sweden's economy shrank 0.1% in the third quarter compared with the previous quarter, preliminary figures from the statistics office showed.

Investors now await third-quarter earnings from Google parent Alphabet, due after European markets close later in the day.

Source: Investing.com