LONDON: European stocks ticked higher on Tuesday, with shares struggling to find momentum after a broad sell-off marked the first day of the new month.
By 1:45 p.m. in London (8:45 a.m. ET), the pan-European Stoxx 600 was edged 0.1% higher, with all major regional bourses in positive territory but sectors were mixed.
Utilities stocks were among those seeing the biggest gains in Europe on Tuesday, with the index adding around 0.6% in early afternoon trade. The sector is widely seen as a stable bet in times of market turbulence.
Winners in the index included wind energy giant Orsted, up 3.6%, and electric utilities firm EDP, which gained 1.8%.
Elsewhere, the FTSE 350 Banks index pared earlier gains to add more than 0.1%, after the Bank of England trimmed its estimate — for the first time in a decade — of how much capital banks operating in the U.K. need as a buffer.
The central bank also said all of the U.K.’s major banks had passed its stress tests, which simulates economic shocks and their potential impact on lenders.
“The results of the 2025 Bank Capital Stress Test indicate that the UK banking system would be able to continue to support the economy even if economic conditions turn out materially worse than expected,” the Bank of England said in its report on the results.
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