European stocks closed slightly higher on Tuesday, with the Stoxx 50 gaining 0.5% and the broader Stoxx 600 edging up 0.1% as global markets awaited the US presidential election outcome.
Industrial stocks rose by 1.2%, while the autos sector fell 1.87%. Shares of Hugo Boss dropped 4.5% despite a better-than-expected Q3 operating profit, due to concerns over declining sales in the Asia-Pacific region amid China's economic slowdown. Schroders shares also plunged 13.4% following its latest trading update.
Investors are closely monitoring which party will control Congress, as a Republican or Democratic sweep could drive substantial shifts in spending and tax policies.
Source: Trading Economics
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