The European stock markets closed mixed in Tuesday trading as investors parsed reports that Saudi Arabia has restarted pumping crude oil via its war-damaged East-West Pipeline ahead of the summit meeting this week between US President Donald Trump and China President Xi Jinping.
The Stoxx Europe rose 0.2%, Germany's DAX gained 0.1%, France's CAC increased 0.2%, while the Swiss Market Index was marginally lower, and the FTSE 100 declined 0.2%.
In corporate news, Novo Nordisk Chief Executive Mike Doustdar said the pharmaceutical major is considering acquisitions to bolster its position in the weight-loss drug market, CNBC reported Tuesday, citing an interview.
Doustdar said Novo Nordisk will look for weaknesses in its drug lineup and consider acquisitions of treatments that could help close those gaps, CNBC reported. Doustdar said the market reaction to its new long-term strategy and growth targets showed that the company still has work to do in convincing some investors.
Novo Nordisk did not immediately reply to' request for comment.
Shares of the Danish pharmaceutical company declined 0.5% in Copenhagen.
UBS CEO Sergio Ermotti said Monday, at the Bank of America Financials CEO Conference, that the bank is making good progress on its current plan heading into Q3, with integration work with Credit Suisse nearly finished. Ermotti said front-office staff are increasingly focused on clients rather than being "distracted by integration topics."
Ermotti said UBS is seeing good momentum in wealth management and transaction activity.
The Swiss lender also said it reached an agreement with the Dutch Public Prosecution Service to resolve criminal allegations against the collapsed Credit Suisse over inaccurate tax returns filed by Dutch clients.
UBS took control of Credit Suisse's assets and liabilities after the bank failed in 2023. Under the terms, UBS will pay 5 million euros ($5.7 million) to settle claims that Credit Suisse facilitated incorrect tax returns by 12 former Dutch customers, UBS said.
Shares of the Swiss lender dropped 3.3% in Zurich.
ASML is not making sales of chipmaking machines in Europe due to a dearth of investment and chip factory construction in the region, Bloomberg reported Tuesday, citing Executive Vice President Frank Heemskerk.
"We're not selling anything at all in Europe," Heemskerk said at an event in Amsterdam late Monday, according to the report. "That's because Europe isn't investing and because no chip factories are being built there."
Heemskerk warned that the region could fall behind the US, China, and India, which he said are making major investments to develop their domestic semiconductor industries. "We need to scale up our production," Heemskerk said. "We aren't doing that solely in the Netherlands. There is a fierce competitive battle to get us to do it somewhere else. What's important for ASML is that Europe steps up to the plate."
ASML didn't immediately respond to a request for comment from.
Shares of the Dutch semiconductor company increased nearly 2% in Amsterdam.
Deutsche Bank's asset manager DWS is considering emergency measures, including redemption limits or penalty fees, at three German property funds as persistent investor withdrawals pressure liquidity, the Financial Times reported Tuesday.
DWS's three Grundbesitz funds have paid out 6 billion euros ($6.87 billion) since 2022, representing roughly half of their assets while selling about 4.5 billion euros of property and approaching statutory borrowing limits, according to fund disclosures cited by the FT.
Deutsche Bank and DWS did not immediately respond to' request for comment.
Shares of Deutsche Bank fell 1.3% in Frankfurt.
BHP said Tuesday it set up a pilot program with Amazon to trade carbon credits for lower-emission copper from the Escondida mine.
The mining facility operates using renewable energy and desalinated water, the company said.
The pilot will allow environmental attribute certificates to be issued for emissions reductions within the copper supply chain and purchased by downstream users, according to BHP. Amazon will apply the certificates against emissions from copper in its cooling systems, power gear, and artificial intelligence hardware, BHP said.
Shares of BHP advanced 1.5% in London.
Rentokil Initial said Tuesday that it has agreed to sell SOLitude Lake Management and its Vertex Aquatic Solutions division to Bain Capital for $230 million on a cash-free, debt-free basis.
The company said it estimates net cash proceeds from the sale of $180 million after tax. The sale reduces leverage, supports investments in organic growth and bolt-on mergers and acquisitions, the company said, adding that the deal also enables a progressive dividend and shareholder returns.
Shares of the business services company were off 0.4% in London.