LONDON — European markets on Tuesday closed higher as earnings continued to dominate stock action and investors braced for central bank decisions in the U.S. and U.K.
The pan-European Stoxx 600 index preliminarily closed 0.53% higher, with most sectors in positive territory. Construction and materials stocks added 1.37%, while mining stocks shed 1.22%.
Investors also contended with the latest earnings releases on Europe, including drinks giant Diageo which tumbled as much as 10% at one point on Tuesday on its first sales decline since 2020. The Johnnie Walker maker was down 4.9% by the close.
Shares of Standard Chartered meanwhile ended the day over 6% higher after the U.K. bank announced its biggest-ever share buyback, of $1.5 billion, and raised its outlook in half-year results.
Oil major BP ended the day slightly lower, reversing earlier gains, after hiking its dividend, as it beat second-quarter earnings estimates.
On the data front, second-quarter gross domestic …