Europe stocks rise amid earnings bonanza; Volvo Cars drops 8.5%

British defense group .

— Sam Meredith

Swiss pharmaceutical firm .

— Karen Gilchrist

Germany’s largest lender .

— Lee Ying Shan

Germany’s Porsche trimmed its sales and profit margin forecasts in an update published after the market close on Monday, partially citing the impact of U.S. tariffs.

The company said it now expects sales revenue of between 37 billion euros ($42.1 billion) and 38 billion for the 2025 financial year, down from a previous forecast of 39 billion to 40 billion euros. Its automotive net cash flow margin is now seen between 4% and 6%, cut from between 7% and 9%, while its automotive earnings before interest, taxes, depreciation and amortization (EBITDA) margin was placed at 16.5% to 18.5%, down from 19% to 21%.

“The introduction of US import tariffs leads to negative impacts for the months of April and May 2025 which are included in the adjusted forecast. However, the adjusted forecast does not take into account further effects of the introduction of US import tariffs,” the company said in a statement.

“Currently it is not yet possible to make a reliable assessment of the effects for the financial year,” it added.

Porsche, which is majority-owned by the Volkswagen Group, said it was also suffering from waning Chinese demand for all-electric luxury cars.

First-quarter results are due later Tuesday.

— Jenni Reid

The U.K.’s FTSE 100 was seen opening 10.6 points higher at 8434.7 points, according to IG data at 5:13 a.m. in London.

Germany’s DAX was seen rising 34.1 points to 22,297, while France’s CAC 40 dropped 18 points to 7,553. Italy’s MIB was last seen nudging 34 points higher to 37,001.

— Jenni Reid

Spot gold slid Tuesday, reversing gains from overnight as bargain-hunting kicked in.

The precious metal slid 0.33% as of 9.15 a.m. Singapore time on Monday to trade at $3,330.87 per ounce, as investors kept watch on developments around trade negotiations between the U.S. and China.

The latest moves in the bullion — which is a traditional hedge against political and financial instability — come after it crossed the $3,500 threshold to hit an all-time high last week, on the back of the heightened macroeconomic uncertainty.

— Amala Balakrishner

Oil prices fell Tuesday on the back of simmering trade tensions between the U.S. and China.

Brent Crude slipped 0.25% to trade at $65.61 per barrel as of 8.26 a.m. Singapore time,

Meanwhile, the West Texas Intermediate crude fell 0.31% to $61.86.

The moves come as the U.S.-China trade war dominates investor sentiment on oil prices.

China is the world’s largest importer of oil and the higher U.S. tariffs may put pressure on its fuels and petrochemicals sectors.

— Amala Balakrishner

Megacap technology earnings this week will be pivotal for the market, according to Deutsche Bank.

Meta and Microsoft are both set to report earnings on Wednesday. Apple and Amazon are slated to release results on Thursday.

“It’s fair to say that these Mag-7 earnings will go a long way to dictating the tone of the week,” Jim Reid, the bank’s global head of macro and thematic research, wrote to clients.

— Alex Harring