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European stocks rise on US Fed rate cut hopes
European stocks got a boost on Tuesday, thanks to rising hopes that the US Federal Reserve might cut interest rates in September.
After weaker-than-expected US jobs data, traders now see a 94% chance of a rate cut, which sent the STOXX 600 index up by 0.4% and kept most European markets in the green.
Big-name companies boost the mood
Big-name companies helped lift the mood even more: Fresnillo's shares jumped after strong results, Smith+Nephew surged 12% with higher profits and a $500 million buyback, and Diageo rose on upbeat sales forecasts.
Hugo Boss and BP also saw gains, showing how solid earnings are keeping investors feeling positive right now.