Europe markets rise as investors weigh economic, geopolitical outlook; UK markets reopen

LONDON — European markets were higher on Tuesday as investors assessed geopolitical risks and U.K. markets reopened after being closed on Monday for a national bank holiday.

The pan-European Stoxx 600 was 0.21% higher at 8:49 a.m. London time, with all major regional indexes trading in the green. Sectors were mixed, with mining stocks adding 1.08%, while retail stocks shed 0.34% and tech dipped 0.18%.

European markets had posted a mixed session on Monday.

Investors continued to weigh geopolitical risks after Israel and Hezbollah traded strikes over the weekend, raising fears about a wider conflict in the Middle East.

The uncertainty sent oil prices higher on Monday. On Tuesday prices eased slightly, with Brent crude futures dipping by 0.15% to $81.31 a barrel and U.S. West Texas Intermediate crude declining by 0.31% to $77.18 a barrel at 8:51 a.m. London time.

On the data front in Europe, Germany’s statistics office on Tuesday released a final reading of the country’s second-quarter gross domestic product, saying that it fell by 0.1% from the previous quarter. That was in line with the preliminary second-quarter GDP reading that was released in July.

Elsewhere, Hungary’s central bank is set to announce its interest rate decision.