European stocks advance with earnings and oil prices in focus
European markets were higher Tuesday morning as investors reacted to falling oil prices and a host of corporate earnings.
The pan-European Stoxx 600 edged 0.6 percent higher in early trade, insurance stocks adding 2.1% to lead gains as most sectors and major bourses entered positive territory.
HSBC, Europe’s largest bank, said on Tuesday that its pretax profit fell 48% year-over-year to $3.229 billion in the first quarter of 2020, while revenue dropped by 5% to $13.686 billion.
Earnings elsewhere in Europe are also impacting sentiment, with reports from BP, Santander, UBS, Novartis and Carrefour, among others on Tuesday.
