European stocks close higher on strong earnings; Johnson wins UK leadership race
Tuesday, 23 July 2019 23:24 WIB | MARKET UPDATE |Indeks Stoxx Europe 600Saham Eropa

European stocks closed higher Tuesday as investors digested a strong set of corporate results and looked ahead to this week™s European Central Bank policy meeting.

The pan-European Stoxx 600 closed up 0.98% to 391.54 with the majority of sectors and major bourses in positive territory.

In earnings news, Swiss banking giant UBS beat forecasts with a net profit of $1.4 billion for the second quarter of 2019, marking its best second-quarter performance in nine years. UBS CEO Sergio Ermotti told CNBC™s Joumanna Bercetche the results showed ''diversification paid off again.'' Shares of the firm were 2% higher.

Elsewhere in the banking sector, Santander posted a slight earnings beat, but net profit still declined 18% due to restructuring costs. The Spanish lender™s stock rose almost 4%, while the broader European banking index was up 2%.

Source: marketwatch

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