European stock markets closed mostly higher in Tuesday trading, with the Stoxx 600 adding 0.5%, Germany's DAX up 0.8%, the FTSE 100 falling 0.7%, France's CAC increasing 0.7%, and the Swiss Market Index up 0.4%.
In economic news, bank lending to non-financial Eurozone companies rose 4.2% on-year in September, the European Central Bank reported.
In regulatory news, Spain is easing proposed electricity requirements for data centers after industry backlash, Bloomberg reported. The rules would require data centers to meet 60% of peak-hour electricity demand with renewable energy until 2029, rising to 70% in 2029 and 80% in 2032, the report said. The revised proposal also relaxes requirements for renewable power facilities and is set to be sent to a government consulting body Tuesday, according to the report.
In corporate news, HSBC shares were down more than 5% in London after the bank reported Q3 results that missed analyst estimates. HSBC on Tuesday reported Q3 adjusted net income of $0.42 per diluted share, up from $0.36 a year earlier, but below the FactSet analyst consensus of $0.44 per share. Revenue for the quarter was $18.62 billion, up from $17.79 billion in the same period a year ago, but also below analyst estimates of $18.98 billion.
Euronet shares fell 6.4% in Milan after its Q3 adjusted EPS and revenue fell year on year and missed analyst estimates. The company reported Q3 adjusted earnings Tuesday of $3.55 per diluted share, down from $3.62 a year earlier. Analysts surveyed by FactSet expected $3.69. Revenue for the quarter was $1.16 billion, down from $1.15 billion a year earlier. Analysts surveyed by FactSet expected $1.19 billion. For 2026, Euronet said it now expects adjusted EPS growth of 10%, compared with previous guidance of 10% to 15%. Revenue was revised to approximately $4.38 billion from the $4.5 billion that was previously provided at its investor day in May.
Novartis shares rose nearly 1% in Switzerland after it reported Q3 core earnings Tuesday of $2.46 per diluted share, up from $2.25 a year earlier, and above the FactSet analyst consensus of $2.27. Net sales for the quarter ended Sept. 30 were $14.52 billion, up from $13.91 billion a year earlier. Analysts expected $14.53 billion. For 2026, the company continues to expect net sales to grow at a low-single-digit rate, while raising its forecast for core operating income to low-single-digit growth from a previously projected low-single-digit decline.
AstraZeneca said Tuesday the European Commission approved Enhertu, its antibody-drug conjugate developed with Daiichi Sankyo for the adjuvant treatment of early breast cancer. The approval was supported by data from a phase 3 trial, which showed Enhertu reduced the risk of invasive disease recurrence or death by 53% compared with trastuzumab emtansine. AstraZeneca shares were 0.9% lower in London.
Novo Nordisk failed to convince a US judge to block Eli Lilly from running weight-loss and diabetes drug advertisements it called false and misleading, multiple news outlets reported Tuesday, citing court proceedings. US District Judge Zahid Quraishi found Novo Nordisk failed to show the ads threatened sales, undermined goodwill or caused lasting damage to its clinical reputation, the news outlets reported. Novo shares shed 0.4% in Copenhagen.
TotalEnergies completed the sale of its 10% non-operated interest in the Renaissance joint venture licenses in Nigeria to Vaaris for $800 million, the company said Monday. The company retains full economic interests in three joint venture gas licenses that supply 50% of Nigeria LNG's gas, it added. TotalEnergies shares were down 0.9% in Paris.
Weatherford said Tuesday that Ireland's High Court approved its previously announced plan to change its legal domicile from Ireland to Delaware. The company expects to complete the redomestication on Nov. 13, after which Weatherford International Corp. will become the group's publicly traded parent. The move will not change Weatherford's operations, management, business strategy or headquarters. Its shares are expected to continue trading on Nasdaq under the WFRD ticker.
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