European stocks edged up in early trade on Tuesday as investors eyed the latest reading on German economic sentiment.
At 0920 BST, the benchmark Stoxx Europe 600 index was 0.3% firmer at 472.08, Germany’s DAX was up 0.2% at 5,783.83 and France’s CAC 40 was 0.1% higher at 6,822.44.
Neil Wilson, chief market analyst at Markets.com, said: “Equity markets seem content to trade broadly sideways as investors balanced the ongoing economic recovery with potential worries about delta, inflation and tapering by the Fed.
“European stock markets edged a little higher in early trade on Tuesday having eked out modest gains on Monday despite a slow start. The FTSE 100 has put in a steady shift since the Jul 19th drop but momentum is starting to ease as the index approaches the top of the range. In Europe, travel and leisure and tech lead the gainers with banks and basic resources weakest.”
On the data front, investors were eyeing the German ZEW survey for August, due out at 1000 BST.
In equity markets, Paddy Power owner Flutter Entertainment was a high riser after it said first-half earnings rose 75% as the gambling group benefited from the acquisition of Stars in the US. Adjusted earnings before interest, tax, depreciation and amortisation increased to £597m from £342m in the six months to the end of June from a year earlier as revenue doubled to £3.05bn from £1.54bn.
HelloFresh rallied after it reiterated its full-year guidance and posted a jump in second-quarter revenues.
Elsewhere, InterContinental Hotels fell despite saying it swung to a profit in the first half as trading recovered from the pandemic hit.
Dutch chemicals company Corbion tumbled after disappointing first-half results.