European Markets Close Higher; Weak HSBC Results Hurt UK Market

European stocks closed higher on Tuesday as oil prices fell sharply after U.S. Secretary of War Pete Hegseth said the ceasefire holds at present despite Iranian attacks against the United Arab Emirates. Investors also digested a slew of earnings updates from European companies.

“Ultimately the President is going to make a decision whether anything were to escalate into a violation of a ceasefire,” Hegseth said. “Right now, the ceasefire certainly holds but we’re going to be watching very, very closely.”