European stocks close higher as investors monitor earnings; Burberry shares jump 14%
Tuesday, 16 July 2019 23:35 WIB | MARKET UPDATE |Indeks Stoxx Europe 600Saham Eropa

European stocks closed higher on Tuesday as traders monitored a slew of earnings reports.

The pan-European Stoxx 600 was up 0.3% to 389.10 at the end of the session, with construction and material stocks, up 1.65%, leading the gains.

Sterling slipped to around $1.24 as fears of a no-deal Brexit rose following comments from potential Conservative Party leader, Boris Johnson. The dollar also strengthened after better-than-expected U.S. retail sales data.

Market players are largely focused on upcoming results from major companies Tuesday. In Europe, Burberry shares soared more than 14% to top the Stoxx 600 after the British luxury brand reported a pick-up in first-quarter sales driven by new designs from creative chief Riccardo Tisci.

Source: CNBC

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