Wall Street rises as materials and crypto stocks offset continued bond sell-off
Investing.com - European shares traded at fresh record highs on Tuesday as strong earnings from banking giant HSBC and pharmaceutical company Bayer helped offset consumer sector weakness and lingering geopolitical concerns.
The pan-European STOXX 600 index gained 0.7%.
Germany’s DAX rose 0.9% while and France’s CAC 40 moved 0.6% higher. London’s FTSE 100 and Italy’s FTSE MIB gained 0.3% and 1.3% respectively.
Investor sentiment drew support from a steady stream of solid quarterly results, which helped sustain momentum following Monday’s rally. European equities have remained resilient as robust corporate balance sheets and easing energy prices continue to shield regional benchmarks from broader macroeconomic uncertainty.
Oil prices edged lower on Tuesday, following a steep sell-off from the previous session after U.S. President Donald Trump announced diplomatic talks with Iran. However, crude’s downside was capped after reports indicated maritime shipping traffic through the critical Strait of Hormuz remained significantly slowed, keeping energy traders wary of persistent supply bottlenecks along key transit routes.
On the corporate front, banking heavyweight HSBC slipped 1.3% despite beating second-quarter profit expectations, bolstered by sustained net interest income and a strong performance in its wealth management division. The bank also announced a fresh $1 billion share buyback.
Germany’s Bayer delivered another positive surprise, gaining 4.8% after reporting an unexpected 1.9% increase in second-quarter adjusted EBITDA, driven by resilient pharmaceutical sales that offset agricultural market headwinds.
Conversely, Beiersdorf fell 1.1% after the Nivea maker cut its full-year 2026 sales guidance, citing a challenging consumer environment and slowing demand across key international markets.
Salvatore Ferragamo fell 2.7% after reporting first-half results.
Synthomer stock rose 2.8% as the specialty polymer supplier delivered a sharply better-than-expected set of first-half 2026 results, simultaneously raising its full-year earnings guidance.
Lufthansa plunged 11.6% after the German airline group released its second-quarter 2026 interim results, revealing a near-halving of adjusted operating profit and a dramatic downgrade to its full-year earnings outlook.
Beyond regional updates, global trading desks are braced for high-stakes earnings reports after Wall Street’s close from chipmaker AMD and Elon Musk’s SpaceX. The inaugural results from SpaceX are attracting intense international scrutiny following its historic $85.7 billion IPO in June.
Having fallen over 50% from post-listing peaks amid heavy AI infrastructure spending and volatile cash burn, SpaceX’s performance is being viewed as a crucial barometer for global retail appetite, mega-cap valuation multiples, and the broader tech IPO pipeline.
