European stocks rose on Tuesday after a slew of better-than-expected earnings reports helped offset worries about fast rising interest rates and a slowing euro zone economy.
The pan-European STOXX 600 index (.STOXX) rose 0.5% by 0717 GMT, with media (.SXMP) and technology (.SX8P) stocks countering losses in chemical firms (.SX4P).
SAP (SAPG.DE) gained 3.9% after the German business software maker reported faster-than-expected revenue growth for the third quarter, while Logitech International (LOGN.S) rose 4.8% after the computer peripherals maker reaffirmed its full-year forecast.
UBS (UBSG.S) climbed 3.5% after the Swiss bank beat market expectations for quarterly profit due to a rise in new money inflows. read more
Among decliners, German chemicals maker Covestro (1COV.DE) fell 1.9% after it cut its 2022 earnings outlook for the third time this year, blaming high gas and raw material prices amid the deepening European energy crisis.
