European markets delivered a mixed performance on Tuesday as investors took profits in technology stocks following recent gains, while renewed geopolitical concerns weighed on sentiment after reports that two commercial vessels were struck by Iranian missiles in the Strait of Hormuz, lifting both oil prices and government bond yields.
Germany’s industrial output beats expectations
Economic data released by Destatis showed Germany’s industrial production rose more strongly than forecast in May.
Industrial output increased 0.9% month-on-month, accelerating from April’s revised 0.2% gain. It marked the strongest monthly expansion since September.
Compared with the same month last year, industrial production was unchanged after declining 0.9% in April.
UK housing market returns to growth
In the UK, the latest Halifax survey compiled by S&P Global showed house prices rose for the first time in four months during June.
Average house prices increased 0.2% month-on-month, reversing the 0.2% decline recorded in May and exceeding economists’ expectations for a 0.1% increase.
European indices move in different directions
Germany’s DAX declined 0.5%, while France’s CAC 40 gained 0.3%. The UK’s FTSE 100 outperformed, rising 0.6%.
Technology shares remained under pressure as investors reassessed valuations following the sector’s strong AI-driven rally. Infineon Technologies (TG:IFX) dropped 5.4%, while ASML Holding (EU:ASML) lost 5.1%.
Company movers
Victrex (LSE:VCT) surged 19% after reaffirming its full-year guidance and reporting stronger-than-expected third-quarter revenue growth.
Halma (LSE:HLMA) slipped more than 1% after announcing the acquisition of French automated tissue sample management specialist Dreampath Diagnostics.
Shell (LSE:SHEL) advanced 3% after improving its second-quarter outlook for liquefied natural gas (LNG) production.
Keller Group (LSE:KLR) climbed 21% to a record high after upgrading its full-year earnings guidance.
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