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(Bloomberg) — European stocks posted modest gains as investors tackled another busy day of earnings and studied the latest news on tariffs.
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The Stoxx Europe 600 Index was 0.3% higher by 8:10 a.m. in London. Real estate, industrial and energy stocks led the gains, while personal care and health were the biggest laggards.
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In earnings news, ABN Amro Bank NV slumped 6.6% after net interest income missed estimates. Commerzbank AG edged higher as the German bank said it’s planning a share buyback of as much as €1 billion ($1.2 billion). Novo Nordisk A/S gained 0.4% after providing more details of a difficult quarter for the Danish drugmaker.
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Siemens Energy AG climbed as the German industrial firm said it expects to reach the upper end of its full-year guidance, while Vonovia SE rallied as the real estate company boosted its forecast for the full year.
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“Despite some strong quarterly numbers from select companies, market sentiment remains fragile as investors judge the real impact of tariffs on profitability and supply chains,” said Ulrich Urbahn, head of multi-asset strategy and research at Berenberg. “Yet, resilient fundamentals in quality European names and hopes of imminent Fed rate cuts are helping to anchor risk appetite.”
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Meanwhile, US President Donald Trump said he’d impose increased tariffs on countries buying energy from Russia while clarifying that levies on semiconductor and pharmaceutical imports would be announced “within the next week or so.”
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Among other individual movers, Fresenius SE gained as the German health-care group lifted its full-year sales outlook. Zalando SE rallied 3.6% as it narrowed its full year revenue forecast.
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The main European index is about 7% higher in 2025. Barclays strategists recommended buying dips in the region’s stocks in the absence of a recession as there’s a case for them to end the year at a record high as peak tariff uncertainty passes.
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SECTORS IN FOCUS
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- European semiconductor-related stocks may be active in early trading after a stream of negative news from US firms since the last close and weakness in Asian peers.
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For more on equity markets:
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- M&A Watch Europe: Tele2, UniCredit, Glencore, Commerzbank, Ades
- Brits’ Shift Toward Foreign Funds Hampers Market: ECM Watch
- US Stock Futures Little Changed; LifeMD, Evolus Fall
- BP Hits the Gas: The London Rush
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—With assistance from Jan-Patrick Barnert and Michael Msika.
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