European Stocks Edge Higher with French Indices Hitting Record Highs

European stocks closed higher amid mixed corporate earnings, with the STOXX 600 rising 0.2%. French stocks hit record highs boosted by companies like Edenred. Industrial and real estate stocks also performed well, while mining stocks lagged. Positive investor sentiment followed calming U.S.-China trade tensions.

European stocks closed slightly up on Tuesday as investors analyzed mixed corporate earnings and French indices hit a record high. The STOXX 600 rose by 0.2%, with major regional indexes mostly in the green, despite Spain dragging somewhat with a 0.4% drop.

Edenred led gains in the STOXX 600 after a strong earnings report, climbing 19.6%. Luxury French brands like LVMH and Hermes boosted the broader index by 0.7%. Industrial stocks also saw a boost, with Airbus and Safran both posting strong performances. Real estate stocks rose by 1.3%, supported by Segro's positive rent signings.

Economic optimism was in part buoyed by easing fears over U.S.-China trade tensions. Investors found further encouragement from a joint European leaders' statement backing Ukraine and potential trade resolutions. Among other moves, HSBC appointed a new UK CEO, and BPER Banca engaged in a significant derivatives transaction.

(With inputs from agencies.)