European markets close higher as investors digest gains

European markets closed higher on Tuesday as investors assessed the US Federal Reserve's monetary policy outlook and digested corporate earnings.

The pan-European Stoxx 600 ended the day provisionally up 1.4% after the release of key technology earnings in the US. The majority of sectors closed in positive territory, led by technology stocks, which closed 4.2% higher. Oil and gas stocks and bank stocks were the only sectors to close in negative territory, ending the day down 0.4% and 0.3% respectively. Among the major companies releasing their quarterly earnings on Tuesday

• HSBC
• UBS
• Novartis
• Randstad
• Air Liquide
• SAP and Covestro

Shares in Europe closed higher on Monday after it was announced that Rishi Sunak will replace Liz Truss as UK prime minister. Sunak was formally confirmed as the country's new leader on Tuesday at a time of economic turmoil. US stocks opened mixed on Tuesday ahead of several days of earnings from the world's biggest technology companies. Shares in Asia-Pacific were mostly higher overnight after a second consecutive positive trading session on Wall Street, but markets in Hong Kong and mainland China were volatile after the conclusion of China's party congress and the release of a series of delayed economic data. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!