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European stocks close higher ahead of Fed meetings
European markets closed higher on Tuesday, with earnings continuing to dominate stocks and investors bracing for central bank decisions in the US and UK.
Diageo, a spirits company, tumbled 8% after reporting a 4.8% drop in annual profit.
The pan-European Stoxx 600 index closed 0.53% higher, with most sectors in positive territory. Construction and materials stocks rose 1.37%, while mining stocks fell 1.22%.
Germany’s DAX index closed up 0.56%, France’s CAC gained 0.42% and Britain’s FTSE 100 fell 0.22%.
Investors also grappled with the latest earnings releases in Europe, including drinks giant Diageo
which fell as much as 10% at one point on Tuesday in its first sales decline since 2020. The maker of Johnnie Walker was down 4.9% at the close.
Standard Chartered shares, meanwhile, ended the day more than 6% higher after the UK bank announced its biggest ever share buyback, worth $1.5 billion, and raised its half-year results forecast.
