European stocks trade sideways as investors monitor Middle East diplomacy and AI earnings: DAX, CAC, FTSE100

Markets hold steady ahead of major technology results

European equities traded in a narrow range on Tuesday as investors remained focused on diplomatic efforts to reduce tensions between the United States and Iran while awaiting earnings from major U.S. technology companies for further signals on artificial intelligence-related demand.

The French CAC 40 slipped 0.1%, Germany’s DAX traded marginally above flat, and the UK’s FTSE 100 edged 0.1% higher.

Kier and mining stocks lead the gainers

Construction and infrastructure specialist Kier Group (LSE:KIE) was among the session’s strongest performers after the company said it expects full-year revenue and profit to finish at the upper end of market expectations.

Mining shares also advanced as stronger copper prices supported the sector. Anglo American (LSE:AAL), Antofagasta (LSE:ANTO) and Glencore (LSE:GLEN) all posted notable gains.

Healthcare and industrial companies attract buyers

Novartis (TG:NOT) moved higher after reporting second-quarter core operating profit ahead of market forecasts.

Swedish engineering company Alfa Laval (TG:AA9) also traded higher after announcing a 35% increase in second-quarter order intake.

Julius Baer (TG:JGE) gained despite reporting that first-half profit more than doubled.

Recruiters and consumer stocks come under pressure

On the downside, recruitment firm Sthree (LSE:STEM) fell sharply after reporting a 75% decline in first-half profit, reflecting weaker hiring activity in Germany and the Netherlands.

Compass Group (LSE:CPG) also retreated despite delivering solid quarterly revenue growth.

Swiss elevator manufacturer Schindler Holding (TG:SHR) dropped to a two-month low after second-quarter sales missed expectations.

Meanwhile, watchmaker Swatch Group (LSE:0QM4) declined after first-half earnings came in below analysts’ forecasts.