BRUSSELS (dpa-AFX) - The major European markets, with the exception UK, are gaining some ground in positive territory on Tuesday despite an escalation in tensions on the Middle East. Disappointing earnings from HSBC Holdings weigh on the banking sector in the UK market, contributing to its weakness.
The US and Iran are indulging in attacks in the Gulf amid rising tensions around the Strait of Hormuz.
Iran's parliament speaker said today that US actions were endangering shipping and energy transit in the Strait of Hormuz. 'Shipping and energy transit security have been endangered by the United States and its allies through breaching the ceasefire and imposing a blockade,' Mohammad Bagher Ghalibaf said in a post on X.
He said a 'new equation' was taking shape in the strategic waterway, and added: 'We know well that the continuation of the status quo is unbearable for America, while we have not even started yet.'
The pan European Stoxx 600 is up by about 0.5%. Germany's DAX is gaining 1.53% and France's CAC 40 is up 0.65%, while the UK's FTSE 100 is down 1.25%.
In the German market, Infineon is rising 4.3%. Commerzbank, Siemens and Siemens Energy are gaining 2.7%-3.5%.
Rheinmetall is up 3% after reporting a 7.7% jump (y-o-y) in first quarter earnings to 1.94 billion euros.
Scout 24 is rising nearly 2% thanks to JP Morgan maintaining its buy rating for the stock. Hugo Boss surged nearly 5%, riding on stronger than expected quarterly results. However, it turned weak subsequently, and was down in negative territory with a loss of about 0.5% a little while ago.
Continental, Daimler Truck Holding, Heidelberg Materials, Deutsche Bank, Deutsche Telekom and SAP are up 1%-2%.
Fresenius Medical Care is down more than 6% after reporting a bigger than expected drop in first quarter net profits.
Fresenius is declining by about 1.4% and Deutsche Post is down 1.3%.
In the French market, Teleperformance is gaining 4.3%, while Bouygues, Schneider Electric, Orange and Vinci are up 2%-2.5%.
Airbus, ArcelorMittal, Thales, Bureau Veritas, Safran, STMicroelectronics, Veolia Environment, Legrand, Eurofins Scientific and BNP Paribas are gaining 1%-2%.
Sanofi is down 4.6%. Danone, EssilorLuxottica, Capgemini, Renault and Stellantis are also weak, albeit with less pronounced losses.
In the UK market, HSBC Holdings is down nearly 6%. In the first quarter, the lender's profit before tax was $9.38 billion, lower than $9.48 billion last year, reflecting higher expected credit losses and other credit impairment charges, among others.
Lloyds Banking Group and Standard Chartered Bank are down 2.9% and 2.8%, respectively. Natwest Group is declining by 1.7% and Barclays is down by about 1%.
Entain is down more than 5%. Weir Group, Legal & General, Aviva, Haleon, Intercontinental Hotels Group, Unilever, Coca-Cola Europacific Partners, Standard Life, Marks & Spencer, Reckitt Benckiser and Fresnillo are down 2%-4%.
Intertek Group is rising more than 7%. BT Group is up 3.7%, while Polar Capital Technology Trust, BAE Systems, Spirax Group and Compass Group are up 1.5%-2%. Airtel Africa, Pearson, Endeavour Mining and The Sage Group are also notably higher.
Data released by the Society of Motor Manufacturers and Traders Limited (SMMT) showed UK new car sales rose by 24% year-over-year in April 2026, reaching 149,247 registrations, reflecting a rebound from a weak April 2025.
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