European Stocks Snap Five-Day Losing Streak on Earnings Boost
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European stocks rose on Tuesday, snapping a five-day losing streak, as upbeat earnings from Hermes International and Puma SE outweighed the impact of underwhelming regional business activity data.
The Stoxx Europe 600 Index closed 0.4% higher, after hitting its lowest level since Jan. 2 on Monday. Miners gained the most, followed by consumer products as Hermes and Puma rallied after results. Banks underperformed, with Barclays dropping after missing estimates at its investment bank and lowering guidance for its UK lender for the second consecutive quarter.