European stocks were mixed on Tuesday, amid a barrage of corporate financial results.
The pan-European STOXX 600 index fell 0.1% to 620.73 points, Germany's DAX index declined by about 0.1% to 24,988.02 points, Britain's FTSE index dropped 0.4% to 10,344.60 points, while France's CAC index rose 0.4% to 8,355.70 points.
Tuesday is a busy day for corporate earnings announcements, with some of Europe's top companies updating investors on their financial situations.
Among these companies is Philips, which released its annual earnings for 2025 before the market opened on Tuesday morning.
Although the company recorded a 6% growth in comparable order volume and returned to profitability after posting net losses in 2024, it lowered its forecast for 2026. The company explained that it now expects comparable sales growth this year to be between 3% and 4.5%, down from its previous forecast of 4.5%.
The company's net income for the year rose by €1.6 million ($1.9 million), which Philips attributed to higher operating revenue, lower income taxes, and reduced expenses. Separately, the company announced on Tuesday a proposal to reappoint CEO Roy Jacobs, subject to shareholder approval at the annual general meeting scheduled for May 8.
In an interview with CNBC's Scoop Box Europe on Tuesday, Jacobs said Philips' earnings included a lot of good news, praising a 7% increase in order volume and higher profit margins despite the challenges associated with tariffs.
He added: “It’s a continuous improvement trajectory. We recorded very strong orders in 2025, but converting those orders into sales takes time. That was factored into the guidance, but we’ve gone up from 2% [sales growth last year] and now we’re saying that in 2026 we’ll achieve growth of between 3% and 4.5%, which is a clear step up in sales.”
Philips shares jumped 9% in early trading.
In contrast, BP's London-listed shares fell by more than 4% after the company announced on Tuesday that it was suspending share buybacks to accelerate the strengthening of its balance sheet. The oil giant's net profit for the full year 2025 was around $7.49 billion, below expectations.
French luxury goods giant Kering also announced its earnings on Tuesday. Shares in the owner of Gucci jumped 13% after the company's sales beat expectations and it announced it expects to return to growth in 2026.
Meanwhile, investors are closely monitoring the political situation in the UK, where Prime Minister Keir Starmer's position remains precarious. Lawmakers are pressuring Starmer to resign following a series of setbacks and renewed controversy surrounding the appointment of Peter Mandelson—whose ties to financier Jeffrey Epstein have been in the news—as ambassador to the United States.
