European equities climbed on Tuesday, supported by a raft of positive corporate updates that eased investors' concerns over recent trade tensions, while shares of Puma (PUMG.DE), opens new tab soared 19% after the sportswear maker sold a stake to China's Anta Sports.
The pan-European STOXX 600 benchmark (.STOXX), opens new tab was up 0.34% by 0803 GMT.
The development underscores how investors are leaning on corporate updates and earnings to guide market sentiment amid an increasingly uncertain macroeconomic environment.
Puma's shares hit their highest point since last March, following a deal by Anta Sports Products (2020.HK), opens new tab to buy a 29.06% stake in the German company for 1.5 billion euros ($1.8 billion). The deal is expected to help Puma increase its sales in the lucrative Chinese market.
Swiss pharmaceutical firm Roche (ROG.S), opens new tab said a phase II clinical trial of its experimental obesity drug CT-388, a once-weekly injection, had delivered positive results. Shares rose nearly 1%. Separately, Indian Prime Minister Narendra Modi said that India and the European Union have finalised a long-pending landmark trade deal.
Investors, however, are still concerned about the long-term implications of U.S. tariff threats for the global trade order, after U.S. President Donald Trump said he would hike duties on South Korean autos and other imports, citing delays in implementing the pact signed last year.
