LIVE MARKETS-Back to earnings

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BACK TO EARNINGS

In a brief window before we get more news on tariffs - higher? Lower? Both? - we've had a slew of corporate earnings for the market to digest. In short, it's good news for tech, mixed for banks, and bad for beverages.

Infineon IFXGn.DE is the biggest gainer on the STOXX 600 .STOXX, up around 10% after it revised up its revenue outlook.

That's giving a bit of a boost to the whole chip ecosystem and tech stocks, up 0.7% are the biggest sectoral gainer in Europe. .SX8P

Banks are also in focus, and markets have welcomed results from BNP Paribas, BNPP.PA up 2.75% but are less positive about UBS UBSG.S, whose shares are down 3.9% even after storming past profit forecasts.

The shares have been on a blazing run recently, so some analysts say the good news was already priced in. Not helping are remarks from CEO Sergio Ermotti that returns for shareholders would be affected by significantly higher capital requirements in Switzerland.

At the other end of the spectrum are drinks makers, where markets were spooked by Diegeo DGE.L withdrawing its medium term sales growth target as tariffs clouded the outlook, a move that also weighed on peers.

The biggest underperformer however is Vodafone VOD.L down 5.7% after it reported another deterioration in Germany, its biggest market, in its third quarter.

With all the news about single stocks, the index level moves feel less relevant but the STOXX itself is down around 0.3%.

(Alun John)

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