European Markets Make Gains Amid Earnings and Tariff Talks

European markets rose for a sixth session, with gains led by the aerospace and defence sector. HSBC and Deutsche Bank's earnings contributed, despite concerns over U.S. tariffs. The STOXX 600 index was up 0.4%, with mixed performances across sectors like healthcare and oil.

European shares extended their rally for a sixth consecutive session on Tuesday, bolstered by robust earnings reports from major players like HSBC and Deutsche Bank. Investor focus was primarily on the implications of U.S. tariffs, which have been a significant concern for global markets.

The pan-European STOXX 600 index rose by 0.4%, led primarily by the aerospace and defence sector. Notably, Rheinmetall's shares surged by 8.5% after the company revealed a 46% jump in preliminary first-quarter sales, largely driven by its defence operations.

Adding to the positive sentiment, the healthcare sector climbed 1.2%, with Novo Nordisk gaining traction for collaborating with telehealth companies to distribute its drug Wegovy. Despite some underlying concerns about U.S. tariffs, European markets have seen a stabilisation, partly due to easing trade tensions between the U.S. and China. However, European Central Bank board member Piero Cipollone cautioned against the potential recessionary effects of a global trade war.

(With inputs from agencies.)