European shares traded modestly higher on Tuesday, supported by gains in technology and mining stocks as easing oil prices lifted sentiment. Investors closely monitored a fresh round of corporate earnings for signs of how geopolitical tensions are affecting businesses, as per a Reuters report.
The pan-European STOXX 600 index rose 0.3% to 641.39 points in early trade.
According to Reuters, oil prices retreated from one-month highs after reports suggested renewed diplomatic efforts between the United States and Iran, easing concerns over an immediate escalation in the region. However, losses in crude were limited after Yemen's Iran-aligned Houthi movement announced a blockade of Saudi Arabia on Monday, keeping supply disruption risks in focus.
Technology stocks led the gains, advancing 1.4%. Dutch semiconductor equipment makers ASMI and ASML climbed 2.5% and 3%, respectively, as investors positioned ahead of key earnings from major U.S. technology companies later this week.
According to Reuters, quarterly results from companies such as Alphabet are expected to provide fresh insight into the durability of artificial intelligence-driven demand and whether elevated valuations across the technology sector remain justified.
Mining stocks also gained 1.4%, tracking higher copper and gold prices, adding to the broader market's positive momentum.
Investor attention in Europe remained firmly on the ongoing earnings season, with market participants looking for evidence of how recent geopolitical tensions and broader economic uncertainty are affecting corporate performance.
Among individual stocks, Swiss wealth manager Julius Baer fell 2% despite reporting stronger-than-expected net new money inflows for the first half, as investors weighed the results against broader expectations. Reuters reported that the bank's shares came under pressure despite the stronger inflows.
