Slight moves in European market as earnings are analyzed

Calm prevailed in European trading on Tuesday, with investors analyzing a wide range of heavy-hitter corporate earnings reports and anticipating economic data, including inflation data in the euro zone for April.

According to Reuters, the European STOXX 600 index saw no significant change by 0710 GMT, but it is heading towards recording its first monthly decline in 6 months.

Throughout Tuesday, investors awaited rapid inflation data at the Eurozone level in April and GDP data for the first quarter, searching for indications about the European Central Bank’s moves to reduce interest rates after June.

Mercedes-Benz shares fell 2.7% after announcing a 30% drop in first-quarter profits and pledging to stay away from entering the race to lower prices.

Stellantis shares fell 2.2% after the French-Italian automaker’s revenues declined in the first quarter.