Investors look at profits, monetary policy | Digireview

European markets closed higher on Tuesday after investors assessed the US Federal Reserve’s monetary policy outlook and assimilated much of corporate profits.

The pan-European Stoxx 600 provisionally closed the day up 1.4% after the release of significant tech earnings to the state.

Most sectors ended in positive territory, led by technology stocks, which closed 4.2%. Oil & gas stocks and banking stocks were the only sectors to close negatively, ending 0.4% and 0.3% respectively.

Among the major companies that reported quarterly results on Tuesday were HSBC, UBS, Novartis, Randstad, Air Liquide, SAP and Covestro.

Shares in Europe closed higher on Monday after announcing that Rishi Sunak would replace Liz Truss as UK Prime Minister. Sunak was formally confirmed as the country’s new leader on Tuesday amid a period of economic turbulence.

US stocks opened mixed Tuesday ahead of a few big days with gains from the world’s largest tech companies.

Shares in Asia-Pacific rose largely overnight after a second consecutive positive trading session on Wall Street, although Hong Kong and mainland China markets were volatile following the conclusion of the Chinese party congress and the release of a slew of delayed economic data.

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