European markets to open higher as Trump considers Iran peace proposal
European markets are expected to open higher following various corporate earnings reports. Notably, BP's profits more than doubled, while Barclays faced a credit-related hit but still reported a profit increase. Additionally, discussions regarding a potential peace proposal from Iran have emerged, adding to market uncertainty.
- ▪Novartis reported a 12% drop in operating income, falling short of analyst expectations.
- ▪BP's profits for the quarter more than doubled, leading to a 1.7% increase in its shares.
- ▪Barclays announced a £500 million share buyback despite facing a £200 million credit-related hit.
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In a busy day for European corporate earnings, Swiss drugmaker Novartis rose 0.7% after reporting its first-quarter earnings, with group operating income dropping 12% on an annual basis to $4.9 billion. It fell below the $5.3 billion expected by analysts polled by LSEG. U.K. energy major BP also reported first-quarter earnings on Tuesday, with the company's profits for the quarter more than doubling and beating expectations. Its London-listed shares closed Tuesday up 1.7%. Barclays shares fell 0.3% after the U.K. lender took a £200 million ($270 million) credit-related hit during the first quarter, driven by the bank's exposure to stricken property lender Market Financial Solutions.The U.K.
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