Swiss stocks extend gains as leaders head to U.S. for trade talks

— Jenni Reid

After a relatively quiet day for European earnings, the calendar is packed today. That includes second-quarter reports from oil giant BP and fashion house Hugo Boss.

We’ve also seen results from staffing firm Adecco Group, which posted better than expected second-quarter operating income that was up 6% to 115 million euros ($132.8 million), and said it expected profitability to improve in the second half.

French satellite operator Eutelsat also beat expectations with revenue growth of 1.6% to 1.24 billion euros, driven by growing interest in its satellite internet services from government and corporate customers, even as operating losses widened to 909 million euros from 310 million euros. Read more about Europe’s aspiring challenger to Elon Musk’s satellite operator Starlink here.

Germany’s Fresenius Medical Care fell short of market estimates with adjusted operating income of 476 million euros, citing higher than expected patient outflows amid “elevated” mortality and missed treatments. The firm nonetheless confirmed its full-year guidance after sales and profit both rose.

— Jenni Reid, Jonathan Stayton, Domi Suskova

Britain’s BP posted stronger-than-expected second-quarter profit, following a period of heightened volatility for global oil and gas prices.

The struggling energy major reported underlying replacement cost profit, used as a proxy for net profit, of $2.35 billion for the three months through June. That beat analyst expectations of $1.81 billion, according to an LSEG-compiled consensus.

The results come as BP continues to try to rebuild investor confidence following a protracted period of underperformance relative to its industry peers.

“Inside the upstream, we’ve had tremendous performance, along with record operating efficiency [and] along with starting up five new major projects,” BP CEO Murray Auchincloss told CNBC’s “Squawk Box Europe” following the results.

— Sam Meredith

German fashion house Hugo Boss posted a better-than-feared dip in second quarter sales and maintained its full-year guidance, despite flagging weakness in the key Chinese market.

Group revenues dipped 1% year-on-year on a constant currency basis to 1 billion euros ($1.15 billion) over the three month period, slightly ahead of the 996 million euros forecast by analysts in an LSEG poll.

Quarterly operating profit rose 15% to 81 million euros, in line with estimates.

The suit maker pointed to “subdued” demand in the once lucrative Chinese market, as Asia Pacific sales fell 5%. But it nevertheless maintained its full-year guidance for reported group sales in line with last year’s, at around 4.2 billion to 4.4 billion euros, and for operating profit to grow 5% to 22%.

— Karen Gilchrist

Good morning from London, and welcome to CNBC’s live blog covering all the action and business news in European financial markets on Tuesday.

Futures data from IG suggests a broadly positive open for European indexes, with London’s FTSE 100 seen opening 0.3% higher, France’s CAC 40 up 0.1%, Germany’s DAX up 0.2%, and Italy’s FTSE MIB 0.1% higher.

Investors on Tuesday will be assessing more tariff news after U.S. President Donald Trump announced plans to significantly raise tariffs on Indian exports to the U.S.

“India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits,” Trump wrote on the social media platform Truth Social.

India responded by saying it was being “targeted” by the U.S. and the European Union over its imports of Russian oil. India markets slipped at the open as investors kept an eye on trade developments between the U.S. and the South Asian nation. Asia-Pacific markets elsewhere traded broadly higher.

U.S. stock futures were slightly higher on Monday night, following a rebound on Wall Street on Monday, as investors followed the latest batch of corporate earnings.

— Holly Ellyatt

Investors will be keeping an eye on earnings from BP, Diageo, DHL, Infineon and Banco BPM. Middle Eastern oil giant Saudi Aramco will also release an earnings update.

French industrial production data is due.

— Holly Ellyatt