© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt
(Reuters) - European shares rose on Tuesday as strong commodity prices helped outweigh mixed corporate earnings updates, while British bank HSBC fell after it abandoned its long-term profitability targets.
HSBC Holdings (NYSE:) dropped 1.3% after its annual profits fell sharply due to the COVID-19 pandemic, while it unveiled a revised strategy focused mainly on wealth management in Asia.
The benchmark euro zone stock index gained 0.1%, with energy and travel stocks gaining the most.
Investors await the testimony of the U.S. Federal Reserve Chair Jerome Powell later in the day where most analysts expect Powell to reiterate the Fed's commitment to maintain a dovish policy.
German healthcare group Fresenius fell 1.3% after it narrowed down its 2021 sales growth forecast and said it would launch a cost-cutting program, while cement-maker HeidelbergCement (DE:) dropped 1.2% even after preliminary results showed core profit was up 6% last year.
Other relevant articles
[2021-02-23 08:40:32] European Stock Futures Higher; Resources, HSBC in Focus
[2021-02-22 19:30:23] Royal Caribbean Shares Soar on Bullish Outlook for Bookings
[2021-02-22 10:10:22] European Stocks Lower; Caution Amid Lockdown Worries
[2021-02-22 09:40:22] European shares drop on inflation risk concerns; Lagarde speech eyed
[2021-02-22 08:30:27] European Stock Futures Lower; Lockdowns and Vaccinations in Focus
[2021-02-22 01:40:26] Asia shares edge up as bond yields, resources steal the show
[2021-02-19 16:55:10] Palantir Jumps After ARK Loads Up on Shares
[2021-02-19 10:15:15] European Stocks Mixed; Renault Slumps
[2021-02-19 09:40:10] European shares rise on upbeat Hermes earnings; Renault slides
[2021-02-19 08:40:09] European Stock Futures Mixed; Insurance Sector Earnings in Focus
[2021-02-18 13:40:06] Facebook shares slip following news blackout move in Australia
[2021-02-18 10:10:08] European Stocks Edge Higher; Credit Suisse, Barclays Led Earnings Flood
[2021-02-18 08:45:06] European Stock Futures Mixed; Corporate Earnings in Focus
[2021-02-18 06:30:07] Learning in a pandemic: An online education executive shares tips
[2021-02-17 10:15:07] European Stocks Lower; Bond Yields Rise And Kering Slumps
[2021-02-17 09:45:07] European share rally pauses as focus turns to inflation; Kering...
[2021-02-17 08:40:18] European Stock Futures Mixed; Rising Bond Yields Prompt Caution
[2021-02-17 08:25:06] European new car sales drop by 25.7% year-on-year in January:...
[2021-02-17 03:25:06] Exclusive: BP offers employees shares in rallying cry for...
[2021-02-17 03:00:09] Melvin Capital raised put option on GameStop Class A shares to 6...
[2021-02-16 17:45:03] Analysts lift profit growth forecast for European firms to 42.7%:...
[2021-02-16 09:50:03] European Stocks Edge Higher; Miners in Focus
[2021-02-16 09:30:03] European shares hover near one-year highs; miners jump
[2021-02-16 08:20:04] European Stock Futures Higher; Vaccination Optimism Helps
[2021-02-16 07:25:02] SoftBank shares hit historic high as online backers celebrate
[2021-02-15 09:55:27] European Stocks Higher on Vaccination Hopes; Vivendi Soars
[2021-02-15 08:30:23] European Stock Futures Higher; Vaccination Optimism Grows
[2021-02-15 01:45:25] Asian shares hit all-time highs, oil buoyant
[2021-02-14 11:05:18] UK says it shares U.S. concerns over WHO COVID-19 mission to China
[2021-02-12 21:00:16] Investors eye shares of hotels, cruise lines as U.S. vaccinations...
[2021-02-12 10:15:10] European Stocks Lower as U.K. GDP Posts Record Slump
[2021-02-12 09:40:10] European shares dip; ASML, ING among early gainers
[2021-02-12 08:50:10] European Stock Futures Lower; Caution as Week Ends
[2021-02-11 18:00:10] Blackstone-backed Bumble set to be valued at more than $13...
[2021-02-11 10:20:07] European Stocks Edge Higher; Credit Agricole Posts Strong Gains
[2021-02-11 09:25:06] European shares edge higher, AstraZeneca gains after earnings
[2021-02-11 08:30:07] European Stocks Edge Higher; Corporate Earnings in Focus
[2021-02-11 07:10:08] European aviation maps flight path to carbon neutrality
[2021-02-10 18:10:04] Shift in euro shares from London to EU is bad for everyone, says UK
[2021-02-10 12:15:03] With Disney shares near record high, investors eye streaming...
[2021-02-10 10:25:02] European Stocks Mostly Higher; SocGen Leads Busy Earnings Day
[2021-02-10 09:30:04] European shares head higher on upbeat earnings
[2021-02-10 08:40:03] European Stock Futures Higher; SocGen Earnings Help
[2021-02-09 20:05:03] Cash flush Americans buying shares as pandemic limits spending...
[2021-02-09 10:45:02] European Stocks Lower; Total Helps Energy Sector
[2021-02-09 09:30:03] European shares dip after strong rally, Total rises
[2021-02-09 08:30:03] European Stock Futures Mixed; Total Earnings in Focus
[2021-02-09 05:05:25] Softbank Shares Soar to Two-Decade Highs, Buoyed by Vision Fund...
[2021-02-09 04:05:25] Asian Stocks Up, Clings Onto Gains After U.S. Sharesâ€™ Record Day
[2021-02-09 02:35:47] SoftBank shares breach Y10,000, hits 2-decade high, on record...
[2021-02-08 23:45:24] Ethereum gets bulk of crypto flows in latest week: CoinShares
[2021-02-08 16:55:22] Riot Blockchain Gets a New CEO; Shares Jump
[2021-02-08 14:10:23] Opening Bell: Global Shares On Track For New Records; Dollar, Oil Rally
[2021-02-08 14:00:24] Game Stop shares jump 11% as Redid trading mania calms
[2021-02-08 10:15:22] European Stocks Higher; Dialog Deal Boosts Tech Sector
[2021-02-08 09:30:22] European shares rise as Dialog Semi lifts technology stocks
[2021-02-08 08:40:42] European Stock Futures Higher; Virus Optimism Grows
[2021-02-08 06:10:25] Hyundai, Kia Shares Fall, Did-They-Didnâ€™t-They Game Over Apple...
[2021-02-08 01:45:22] Asian shares near all-time peak, oil heads to $60 on economic revival hopes
[2021-02-05 21:00:16] Laix shares soar, other small Chinese educational stocks gain
[2021-02-05 20:20:15] White House says European trade tariff policy under review
[2021-02-05 15:40:10] GameStop shares rise after Robinhood lifts trading curbs
[2021-02-05 12:15:10] StockBeat: A Tale of Two Bond Yields Lifts European Markets
[2021-02-05 09:55:10] European Stocks Edge Higher; BNP Paribas Gains on Solid Earnings
[2021-02-05 09:25:10] European shares rise in early trading, Germany lags broader rally
[2021-02-05 08:20:10] European Stock Futures Edge Higher; Vaccine Optimism Helps
[2021-02-05 05:30:11] Kuaishou Shares Triple in Hong Kong Debut
[2021-02-05 03:10:10] Kuaishou shares set to rise 194% in Hong Kong market debut
[2021-02-04 10:10:06] European Stocks Higher; Solid Corporate Earnings Help
[2021-02-04 09:30:07] European shares pause after three-day rally
[2021-02-04 08:55:13] GameStop, AMC shares fall in Frankfurt
[2021-02-04 08:40:06] European Stock Futures Mixed; Deutsche Bank Swings to Profit
[2021-02-03 18:55:08] Number of GameStop shares shorted edges higher: S3 Partners
[2021-02-03 14:55:09] Opening Bell: Futures, Shares Resume Rally On Earnings, Stability; Oil...
[2021-02-03 12:15:08] GameStop, AMC shares reverse course in retail trading...
[2021-02-03 10:05:07] European Stocks Higher; Corporate Earnings, Italian Politics Help
[2021-02-03 09:25:07] European shares rise on earnings, recovery hopes
[2021-02-03 08:40:06] European Stock Futures Higher; Draghi Return in Focus
[2021-02-03 02:00:24] Asian shares push higher on improving coronavirus outlook
[2021-02-02 10:15:04] European Stocks Higher; Stimulus Hopes Boost Growth Optimism
[2021-02-02 09:30:04] European shares rise on recovery hopes, technology shares gain
[2021-02-02 08:25:03] European Stock Futures Higher; Market Optimism Rises
[2021-02-01 17:00:26] GameStop shares shorted fall by over half in week -- S3 Partners
[2021-02-01 10:40:22] Global shares rally, retail surge drives silver higher
[2021-02-01 10:30:23] European Stocks Higher; Reddit Horde Shifts Focus to Silver
[2021-02-01 09:35:22] European shares rise as miners lead early gains
[2021-02-01 08:40:22] European Stock Futures Higher; Silver Spotlight Relieves Pressure
[2021-02-01 01:35:22] Asia shares slip for 5th session, silver gets retail boost
[2021-01-29 14:50:12] BlackBerry execs sold shares as Reddit-driven rally started
[2021-01-29 13:25:14] Robinhood restricts buying of fractional shares in GameStop,...
[2021-01-29 10:40:10] GameStop, Koss shares double in early deals
[2021-01-29 10:30:12] European Stocks Weaken; Activism Concerns Weigh
[2021-01-29 08:25:26] European Stock Futures Lower; Uncertainty over Populist Movement
[2021-01-28 10:35:07] European Stocks Lower; Wall Street Selloff and Virus Restrictions Weigh
[2021-01-28 09:35:06] European shares hit near 1-month low after Wall Street selloff
[2021-01-28 08:30:16] European Stock Futures Lower; Wall Street Selloff Weighs
[2021-01-28 04:45:08] Asian Stocks Down, Follows Rout in U.S. Shares as Valuations...
[2021-01-27 22:40:08] Tesla Misses Earnings in Q4, but Sees Faster Growth in Deliveries; Shares Slump
[2021-01-27 18:35:07] AMC Shares Jump Amid Trading Halts and Restrictions
[2021-01-27 14:10:15] Opening Bell: Earnings, Virus Concerns Spur U.S. Tech Shares; Gold Slumps