European Shares Edge Higher As Investors Look Ahead To Fed, ECB Meetings

(RTTNews) - European stocks traded higher on Tuesday as investors looked ahead to upcoming Fed and ECB meetings.

On a light day on the economic front, data showed a measure of French consumer confidence rose to 92 in January from 89 in the previous month.

The Spanish Economy Ministry said it will raise its gross domestic product growth target for this year above the current 2.4 percent.

The pan European STOXX 600 was up 0.3 percent at 531.23 after ending flat with a negative bias the previous day.

The German DAX edged up by 0.1 percent and the U.K.'s FTSE 100 rose 0.3 percent, while France's CAC 40 slipped 0.1 percent.

German media company Freenet AG rose over 1 percent after appointing Robin John Andes Harries as its new CEO.

Energy technology group Siemens Energy rallied 3 percent after reporting increased sales and earnings figures for the first quarter and raising part of its forecast for the 2024/25 financial year.

Basilea Pharma added 1.3 percent. The commercial-stage biopharmaceutical company announced that the total global in-market sales of its leading antifungal Cresemba increased 20 percent year-on-year to $533 million in the twelve-month period between October 2023 and September 2024.

SAP SE gained half a percent. The business-software group raised its operating profit and sales guidance for the year.

SThree fell 2.5 percent in London after fiscal 2024 profit before income tax declined to 67.64 million pounds from 77.91 million pounds in the prior year.

French engineering and technology consulting group Alten SA jumped 9 percent after 2024 revenue increased by 1.8 percent.

Netcompany Group A/S plunged 17 percent after Q4 revenue came in below expectations.