The European stock markets closed mixed in Tuesday trading as defense and mining stocks slumped, while luxury goods stocks rallied.
The Stoxx Europe declined 0.5%, Germany's DAX fell 1.2%, the FTSE 100 gained 0.3%, France's CAC dropped 0.4%, and the Swiss Market Index rose 0.4%.
And in corporate news, HSBC will stop lending to riskier private credit clients that have not provided sufficient returns, Bloomberg reported Tuesday, citing people familiar with the matter.
The bank will no longer provide back-leverage financing to several clients but will continue to provide them with access to other services, the report noted.
"We have built an offering that covers every stage of the private credit market, offering a seamless process with robust central oversight. We focus on supporting deals globally for our most important clients, in regions where we see the most potential for growth and aligned to our strategy," an HSBC spokesperson told MT Newswires.
HSBC has also launched a review of its Turkish retail and corporate banking business and is considering all options, Reuters reported Tuesday, citing a company statement.
"The review will consider all options for our retail banking and primarily domestic-focused smaller and medium-sized corporate banking operations in Turkiye, and no decisions have yet been made," an HSBC spokesperson told MT Newswires.
Shares of the British lender were off 0.6% in London.
BHP Group has received environmental approval for early stage works to expand its Escondida copper mine in Chile, Bloomberg reported Tuesday.
A BHP spokesperson told Bloomberg that the Antofagasta Environmental Assessment Commission cleared $1.3 billion in early works, covering sulfide leaching and electricity upgrades. This stage will be followed by mine and processing facility upgrades, the report added.
BHP holds a 57.5% interest in Escondida, while Rio Tinto owns a 30% stake, according to Bloomberg.
BHP Group did not immediately respond to MT Newswires' request for comment.
Shares of the mining company fell nearly 4% in London.
Shell expects Q2 oil-and-gas production volumes will decline due to Persian Gulf hostilities, but profit margins will swell, the energy giant reported Tuesday.
The company said Q2 natural gas production is expected to be 610,000 to 650,000 barrels of oil equivalent a day in Q2, down from 909,000 in Q1, "reflecting the impact on Qatari volumes."
Shell has also agreed to sell its Shell Downstream South Africa retail and wholesale fuel business to Abu Dhabi's ADNOC Distribution at an implied enterprise value of $1 billion, ADNOC said Tuesday.
Following completion of the deal, a 28% stake in Shell Downstream South Africa is expected to be sold to a local partner and included in an employee stock-option plan, the company said. The deal is expected to close in 2027.
Shares of the British oil and gas major gained 3.2% in London.
AstraZeneca has entered a multi-year agreement to access Helix's genomic datasets to support research for drug discovery and development, Helix said Tuesday.
Under the agreement, AstraZeneca will gain access to Helix's GenoSphere cohorts, which combine Exome+ genomic sequencing and longitudinal clinical data across multiple disease areas, including cardiometabolic, respiratory and autoimmune disorders, among others, the company said.
Financial terms of the deal were not disclosed.
Shares of AstraZeneca rose 2.2% in London.
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