European equities made modest gains on Tuesday, with the pan-European STOXX 600 index rising 0.2% by 07:25 GMT. The index hovered near a seven-week high as investors closely monitored developments in US tariff policy and sought signals on the direction of the global economy.
Utilities and telecom companies led the advance, with the utilities sector climbing 1.1%. A standout performer was Portugal’s EDP Renovaveis, which surged 3.5% following an upgrade by Deutsche Bank from “hold” to “buy.”
Renewable energy stocks were among the biggest gainers after the Trump administration lifted a month-long stop-work order on a major offshore wind project off the coast of New York. As a result:
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Oersted jumped 13.3%
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Vestas Wind Systems gained 4%
These developments provided a boost to green energy sentiment across European markets.
Despite lingering concerns from Moody’s recent downgrade of the US sovereign credit rating, global markets showed signs of stabilization. Investors are also eyeing potential outcomes of upcoming US reciprocal tariffs, expected to be reintroduced in early July, which could further influence global trade dynamics.
Stock Highlights
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Salmar (Norwegian salmon farmer) dropped 4% after missing Q1 profit estimates
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In the UK, a positive earnings season lifted several stocks:
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Greggs, SSP Group (owner of Upper Crust), and Diploma soared between 3.7% and 14.5% following strong financial results
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The mixed movement reflects a cautious optimism among European investors, who are weighing corporate performance against broader geopolitical and macroeconomic risks.
