European shares rise amid earnings flurry

European shares rose on Tuesday, with a slate of earnings and data on watch while investor sentiment improved on hopes of the Federal Reserve cutting interest rates in its September policy meeting.

The pan-European STOXX 600 index edged up 0.4%, as of 0710 GMT, with most regional bourses also trading in the green.

Global markets were positive after odds for a Fed September rate cut rose to almost 94%, according to CME Fedwatch, following a soft U.S. nonfarm payrolls data last week.


Meanwhile, earnings continued in full swing, with Fresnillo ranking among top gainers, jumping 6.3% after the miner reported positive first-half results.

Smith+Nephew led gains, jumping 12% after the British medical products maker posted a 11.2% jump in first-half profit and announced a new $500 million share buyback for the remainder of the year.

Diageo gained 5.6% after the world's biggest spirits maker forecasted 2026 sales growth to be similar to this year, and increased its cost-savings target.

Hugo Boss was up 3% after cost-cutting measures led to the German fashion brand reporting a better-than-expected operating profit for the quarter.

BP added 1.4% after the oil giant said it would review assets and costs in order to improve profitability with second-quarter profit beating expectations.