This was C온라인카지노사이트's live blog covering European markets.

European markets closed higher on Tuesday after investors parsed a flurry of earnings for indications of the impact of U.S. tariffs and global economic uncertainty.

The  index provisionally closed higher by 0.4%, with utilities and healthcare sectors leading the gains.

Regionally, the FTSE 100 closed up 0.6% — its 12th consecutive day of gains and its best run for at least five years. France's CAC 40 and Germany's DAX were up 0.1% and 0.8%, respectively.

Shares of shed 10% after the automaker reported a steep first-quarter profit decline and .

Earnings highlights

• Oil giant BP posts 49% drop in first-quarter profit on weaker crude prices | view post
• HSBC tops profit expectations, announces $3 billion share buyback | view post
• Deutsche Bank reports 39% jump in first-quarter profit, above expectations | view post
• Porsche cuts full-year outlook as tariffs weigh | view post
• Novartis posts better-than-expected first-quarter sales, hikes guidance | view post
• Volvo Cars scraps financial guidance as earnings fall | view post
• Adidas profits soar but tariffs cloud outlook, says U.S. prices will increase | view post
• Lufthansa posts slight revenue beat, warns U.S. tensions could hit demand | view post
• Carlsberg sees 'soft' start to the year on weak consumer spending | view post
• Rheinmetall shares jump after first-quarter earnings beat | view post
• AstraZeneca shares fall despite earnings growth | view post

Data showed Spain's economy grew 0.6% in the first quarter, in figures released ahead of the wider euro zone reading on Wednesday.

Stocks open lower on Tuesday

Stocks traded lower Tuesday morning.

The S&P 500 dropped 0.3% shortly after the opening bell, while the Nasdaq Composite traded down 0.4%. The Dow Jones Industrial Average traded around the flatline.

— Sean Conlon

Associated British Foods shares tumble after 10% profit drop

London-listed shares of — owner of Primark, Kingsmill and Twinings — were down 9.1% by 1:52 p.m., after the company a 10% year-on-year drop in adjusted operating profit for the 24 weeks to March.

Operating profit for the period came in at £835 million ($1.12 billion), above the $816 million expected by analysts polled by LSEG.

— Chloe Taylor

BP CEO Murray Auchincloss discusses first-quarter results

BP CEO Murray Auchincloss discusses the company's strategic reset and the outlook for the business amidst geopolitical turmoil and increased need for energy security.

BAE Systems says it is 'aligned' with U.S. defense policy

British defense group has "tightly aligned" its objectives with those of the U.S. national security strategy — particularly the White House's proposed Golden Dome anti-missile architecture that has drawn in the interest of commercial enterprises since the start of the year.

"A lot of what we have in terms of capabilities … are highly relevant to the Golden Dome requirements," the company's Chief Financial Officer Brad Greve told C온라인카지노사이트's "Europe Early Edition" on Tuesday, noting the attention U.S. President Donald Trump's administration has paid to the project, which was mandated through an executive order back in January.

Inspired by Israel's anti-missile Iron Dome, the defense system will intercept and destroy missiles and incorporate both existing arsenal and new capabilities — potentially putting tens to hundreds of billions of dollars on the table for space and defense companies that still widely depend on national contracts for the brunt of their revenues.

The White House's so-called Department of Government Efficiency (DOGE) could have a role to play in accelerating the delivery of this and other national acquisition processes.

"If DOGE can focus its efforts on trying to unpick the bureaucracy and streamline the delivery of procurement to capability, I think that can be a win for everyone," Greve said.

Washington's focus on the Golden Dome project aligns with Trump's broader emphasis on bolstering defense capacities, which has in the past manifested as criticism against European allies that fell short of their NATO expenditure targets.

"This administration has definitely called out what everyone knows: a massive underspend in European defense over the last decade," Greve stressed.

— Ruxandra Iordache

Spanish economy grew 0.6% in first quarter

Spain's economy grew by 0.6% in the first quarter of the year, preliminary data from the country's statistics office INE .

It marked a slight slowdown from the previous three months, when the Spanish economy saw .

Spain is in the European economy this year.

In its latest economic forecasts published earlier this month, the International Monetary Fund it expected Spain's economy to outperform its regional peers and grow by 2.5% in 2025. Europe as a whole is projected to see economic growth of 1.3% this year, , with EU countries collectively expected to see gross domestic product expand by 1.2%.

— Chloe Taylor

AstraZeneca shares fall despite earnings growth

British pharmaceutical giant was 4% lower shortly after the opening bell, after the company posted its first-quarter earnings update.

On Tuesday morning, AstraZeneca reported a 10% year-on-year rise in total revenue, which hit $13.59 billion thanks to double-digit growth in the company's oncology and biopharmaceuticals divisions.

Markets had been expecting quarterly revenue to reach $13.74 billion, according to LSEG data.

Operating profit, which jumped 12% to hit $4.8 billion, exceeded market expectations by around 5%, according to LSEG.

AstraZeneca confirmed its full-year guidance on Tuesday, saying it expected annual revenue to grow by a high single-digit percentage in 2025.

Speaking to C온라인카지노사이트's "" on Tuesday, AstraZeneca CEO Pascal Soriot said the firm did not expect a huge impact from , as the company had been working to make its American and Chinese supply chains resilient and most of its U.S. drugs were developed in the United States.

— Chloe Taylor

Rheinmetall shares jump 5.7% after first-quarter earnings beat

Shares of German arms manufacturer jumped 5.7% during early trade on Tuesday, after the company earnings for the three months to March were expected to come in well above market expectations thanks to a "very good performance" in its defense business.

In a trading update published after regional markets closed on Monday, the defense giant said its preliminary figures showed year-on-year sales growth of 73% for its military business and 46% sales growth across the company. Total sales hit 2.3 billion euros ($2.6 billion) in the first quarter, the firm said.

Quarterly operating profit in Rheinmetall's defense segment jumped 96% from the previous year, the figures showed, with operating profit across the entire business rising by 49% year-on-year to reach 199 million euros.

The company said market analysts had been expecting quarterly sales of 1.95 billion euros and operating profit of 165.8 million euros.

Order backlog hit an all-time high in the first quarter, Rheinmetall said, thanks to several major orders. It confirmed its outlook for full-year 2025, with total revenue forecast to rise by 25% to 30%, noting that the current guidance did not take into account "the improvement in market potential that is likely to arise … as a result of the geopolitical developments in recent weeks."

The European Union recently put plans into motion to for member states to ramp up defense spending, while German lawmakers last month to enable it to increase its military budget. Shares of Rheinmetall, which supplies military goods to several European countries, have jumped around 130% since the beginning of the year.

Rheinmetall is due to release its full first-quarter earnings report on May 8.

— Chloe Taylor

Carlsberg posts 'soft' start to the year on weak consumer spending

Danish brewer  on Tuesday reported a "soft" start to the year, as weak consumer spending and the loss of its San Miguel license weighed on demand.

First-quarter revenue came in at 20.1 billion Danish kroner ($3.06 billion) versus the 19.5 billion Danish kroner estimated by analysts in an LSEG poll. Sales were driven primarily by the group's premium beer brands — excluding San Miguel — alcohol-free brews and Beyond Beer products.

Carlsberg said the loss last year of its exclusive license partnership to produce and distribute San Miguel had negatively impacted first-quarter sales.

"It was a soft start to the year, impacted by the loss of the San Miguel brand and continued subdued consumer spending in an environment with increased macroeconomic volatility," CEO Jacob Aarup-Andersen said in a statement.

The brewer nevertheless maintained its 2025 full-year guidance for operating profit growth of 1% to 5%, and said that its acquisition of British soft drinks maker Britvic was expected to boost operating profit to the tune of £250 million ($335 million) this year.

— Karen Gilchrist

Oil giant BP posts 49% drop in first-quarter profit on weaker crude prices

British oil giant  posted slightly weaker-than-expected first-quarter net profit, following a recent strategic reset and a slump in crude prices.

The  oil and gas major posted underlying replacement cost profit, used as a proxy for net profit, of $1.38 billion for the first three months of the year. That missed analyst expectations of $1.6 billion, according to an LSEG-compiled consensus.

BP's net profit had hit  a year earlier and  in the final three months of 2024.

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— Sam Meredith

Adidas profits soar but tariffs cloud outlook, says U.S. prices will increase

Germany's announced a 155% jump in first-quarter profit, as the sportswear giant confirmed its U.S. prices would increase as a result of tariffs.

Net income from continuing operations rose to 436 million euros ($496.5 million), above the 383 million euros forecast in an LSEG-compiled consensus, as net sales climbed 12.7% to 6.15 billion euros.

"In a 'normal world' with this strong quarter, the strong order book and in general a very positive attitude towards adidas, we would have increased our outlook for the full year both for revenues and operating profit. The uncertainty regarding the US tariffs has currently put a stop to this," the company said in a statement.

It added that it was "somewhat exposed" to "currently very high tariffs" on China, but was hit hardest by from all other countries because it cannot currently produce almost any products in the U.S.

"These higher tariffs will eventually cause higher costs for all our products for the US market. Given the uncertainty around the negotiations between the US and the different exporting countries, we do not know what the final tariffs will be."

The company reaffirmed its full-year outlook but said there were "uncertainties that could put negative pressure on this later in the year."

— Jenni Reid

Volvo Cars scraps financial guidance as earnings fall

Swedish-based automaker Volvo Cars  cost-cutting plans of 18 billion Swedish krona ($1.87 billion) as its operating profit fell sharply in the first three months of the year.

Volvo Cars, which is owned by China's Geely Holding, reported first-quarter operating profit of 1.9 billion krona, down from 4.7 billion krona in the same period last year.

The company said the results reflect a drop in wholesales as part of a planned inventory reduction during the final three months of 2024, adverse currency effects and broader automotive industry turbulence.

It also said it was no longer providing financial guidance for both 2025 and 2026.

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— Sam Meredith

Novartis posts better-than-expected first-quarter sales, hikes guidance

Swiss pharmaceutical firm  reported better-than-expected first-quarter sales and raised its full-year guidance.

Net sales were up 15% on a constant currency basis to $13.2 billion, compared to the $13.12 billion estimated by analysts in an LSEG poll.

Quarterly adjusted core operating income rose 27% to $5.58 billion versus the $5.07 billion expected.

Novartis also raised its full-year guidance for 2025, forecasting net sales to grow by high single digits and core operating income to increase by low double-digits.

The results come as the global pharmaceutical industry waits with bated breath for anticipated U.S. tariffs after the President Donald Trump's administration launched an investigation into the sector earlier this month.

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— Karen Gilchrist

Deutsche Bank posts 39% jump in first-quarter profit, above expectations

Germany's largest lender posted higher-than-expected first-quarter profit.

Net profit attributable to shareholders reached 1.775 billion euros ($2.019 billion) in the first quarter, up 39% year-on-year and above analyst expectations of around 1.64 billion euros, according to a Reuters poll. The bank reported profit of 106 million euros for the December quarter.

Revenues reached 8.524 billion euros over the period, up 10% year-on-year and above a $7.224-billion-euro result in the fourth quarter.

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— Ruxandra Iordache

Lufthansa posts slight revenue beat but misses on profit, warns U.S. tensions could hit demand

reported a 10% year-on-year rise in first-quarter revenue, as the European airline group said risks had increased and tensions between the U.S. and the European Union could dent travel demand.

Revenue hit 8.1 billion euros ($9.2 billion) in the quarter, just ahead of estimates in an LSEG-compiled analyst consensus. Net income slid 21% to a 885 million euro loss, greater than the 617 million euro loss forecast in the same poll.

The group said tensions between the U.S. and key trade partners including the EU and China were leading to an "increasingly volatile global economic environment." It warned that this could also lead to financial losses due to more subdued demand, changes in demand, decreases in airfreight volumes, market fluctuations or higher costs for materials, aircraft and aircraft parts.

— Jenni Reid

HSBC first-quarter profit tops expectations

Europe's largest lender HSBC's first-quarter results on Tuesday beat estimates, though profit and revenue both declined on an year-on-year basis.

The bank also announced share buyback of up to $3 billion which it intends to complete before its 2025 interim results are announced.

Here are HSBC's first-quarter 2025 results compared with consensus estimates .

• Profit before tax: $9.48 billion vs. $7.83 billion
• Revenue: $17.65 billion vs. $16.67 billion

The bank's profit, however, declined 25% on a year-on-year basis. Revenue fell 15% from last year.

Profit before tax, however, soared nearly 317% from the previous quarter.

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— Lee Ying Shan

Porsche cuts full-year outlook as tariffs weigh

Germany's trimmed its sales and profit margin forecasts in an update published after the market close on Monday, partially citing the impact of U.S. tariffs.

The company said it now expects sales revenue of between 37 billion euros ($42.1 billion) and 38 billion for the 2025 financial year, down from a previous forecast of 39 billion to 40 billion euros. Its automotive net cash flow margin is now seen between 4% and 6%, cut from between 7% and 9%, while its automotive earnings before interest, taxes, depreciation and amortization (EBITDA) margin was placed at 16.5% to 18.5%, down from 19% to 21%.

"The introduction of US import tariffs leads to negative impacts for the months of April and May 2025 which are included in the adjusted forecast. However, the adjusted forecast does not take into account further effects of the introduction of US import tariffs," the company said in a statement.

"Currently it is not yet possible to make a reliable assessment of the effects for the financial year," it added.

Porsche, which is majority-owned by the Group, said it was also suffering from waning Chinese demand for all-electric luxury cars.

First-quarter results are due later Tuesday.

— Jenni Reid

Europe markets: Here are the opening calls

The U.K.'s FTSE 100 was seen opening 10.6 points higher at 8434.7 points, according to IG data at 5:13 a.m. in London.

Germany's DAX was seen rising 34.1 points to 22,297, while France's CAC 40 dropped 18 points to 7,553. Italy's MIB was last seen nudging 34 points higher to 37,001.

— Jenni Reid

Spot gold slides on uncertainty over U.S-China trade negotiations

slid Tuesday, reversing gains from overnight when the bargain-hunting kicked in.

The precious metal slid 0.33% as of 9.15 a.m. Singapore time on Monday to trade at $3,330.87 per ounce, as investors kept watch on developments around trade negotiations between the U.S. and China.

The latest moves in the bullion — which is a traditional hedge against political and financial instability — come after it crossed the $3,500 threshold to hit an all-time high last week, on the back of the heightened macroeconomic uncertainty.

— Amala Balakrishner

Oil prices fall as trade tensions between U.S. and China dent investor sentiment

Oil prices fell Tuesday on the back of simmering trade tensions between the U.S. and China.

Brent Crude slipped 0.25% to trade at $65.61 per barrel as of 8.26 a.m. Singapore time,

Meanwhile, the crude fell 0.31% to $61.86.

The moves come as the U.S.-China trade war dominates investor sentiment on oil prices.

China is the world's largest importer of oil and the higher U.S. tariffs may put pressure on its fuels and petrochemicals sectors.

— Amala Balakrishner

Mag 7 earnings could be 'dictating' market's tone this week: Deutsche Bank

Megacap technology earnings this week will be pivotal for the market, according to Deutsche Bank.

and are both set to report earnings on Wednesday. and are slated to release results on Thursday.

"It's fair to say that these Mag-7 earnings will go a long way to dictating the tone of the week," Jim Reid, the bank's global head of macro and thematic research, wrote to clients.

— Alex Harring