Stocks in Europe edged higher on Tuesday, with both the STOXX 50 and the STOXX 600 gaining nearly 0.2%, extending the modest advance from the previous session. Rising expectations of a Fed rate cut next month continued to support investor sentiment.
Banks were among the strongest performers, with Barclays up 3.1%, Societe Generale rising 1.8%, and Commerzbank gaining 0.8%. ABN AMRO jumped more than 4% after announcing plans to cut 5,200 jobs by 2028 as part of an effort to streamline operations and reduce costs. The tech sector also advanced, supported by gains in ASML Holding (1.3%) and Infineon (2.5%).
Defense stocks rebounded as well, including Rheinmetall (2.3%) and Leonardo (1.9%). Elsewhere, Kingfisher climbed 5.7%, ranking among the top gainers on the STOXX 600, after raising its full-year profit outlook. Meanwhile, traders continued to monitor developments in Ukraine, as leaders of the "coalition of the willing" were set to hold a conference today to discuss peace talks.
Source: Trading Economi
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