European equities climb up on reviving reflation trade

European equities climb up on reviving reflation trade

On Tuesday, strength among commodity companies as well as banking equities, not to mention a string of solid updates underpinned European equities in early deals.

The STOXX 600 index rallied 0.3% backed by strength in mining companies and banks, while blue chips managed to earn 0.4%.

Germany's DAX leapt 0.1%, while the commodity-heavy FTSE 100 acquired 0.5%.

Dutch paints producer Akzo Nobel happened to be one of the greatest individual drags on the STOXX. Nevertheless, it dropped 1.3% as its second quarter profit ruined expectations.

Updates also put pressure on paper maker UPM, chocolate maker Lindt & Spruengli, chemicals company Croda International, as well as Domino's Pizza. Their average losses ranged 3-6.5%.

Although it’s still early days for the EU second quarter earnings season as just 20% of companies have provided updates, more than half of them have surpassed experts’ expectations, as Thomson Reuters data states.

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