European stock markets ended the day cautiously higher on Tuesday, as investors focused on earnings and U.S. data.
The benchmark Stoxx 600 index closed up 0.6%, with sectors mostly in positive territory. Telecom stocks led losses with a 0.9% dip, while chemicals and retail stocks each saw a 1.3% increase.
British grocery delivery firm Ocado was a top gainer, up more than 19% as it reported a swing to underlying profit in first-half results, though a wider group loss before tax. Regarding recent speculation of takeover interest from Amazon, Reuters quoted CEO Tim Steiner as saying: "Speculation is speculation, I have nothing to say."
Meanwhile, across the Atlantic, it's a big earnings day, with Bank of America, Bank of New York Mellon and Morgan Stanley earnings all exceeding expectations. PNC Financial lost 1% after mixed second-quarter results.
U.S. retail sales data came in weaker than expected in June, according to the Commerce Department. Advance retail sales ticked up 0.2% month-over-month, while economists polled by Dow Jones had forecasted a 0.5% increase.
Looking ahead to Wednesday, investors will be watching for the release of U.K. inflation figures, as the Bank of England prepares for a monetary policy meeting on Aug. 1. A second consecutive 50 basis point hike remains a possibility after strong wage growth in the three months to May.
British cybersecurity firm Darktrace closes 27% higher
Shares of Darktrace ended Tuesday up over 27% after the company said that auditing firm EY had concluded a review into the company's financial processes and controls.
The British cybersecurity firm said EY had concluded its review into the company's contracts and internal financial processes, and found a "small number of errors and inconsistencies" with some of the contracts — but nothing that would be "material" to its financial statements.
— Ryan Browne
Climate change is at the heart of the Spanish general election
The election could have a "huge impact on climate policies," Teresa Ribera, Spain's minister for ecological transition, tells CNBC's Charlotte Reed ahead of Sunday's national vote.
BlackRock's assets will soon hit $10 trillion, Morgan Stanley says
BlackRock is poised to keep growing its industry-leading asset holdings, especially in fixed income, according to Morgan Stanley Michael Cyprys.
"BLK's breadth of capabilities, unrivaled distribution prowess and top brand uniquely position the firm to capture key growth zones over the next several years in fixed income, cash mgmt, private markets and Aladdin technology. This should result in the firm's $9 trillion of AUM today expanding to $10 trillion in the next few quarters, and surpassing $15 trillion in 5-years," Cyprys wrote.
Morgan Stanley has an overweight rating and an $888 price target on BlackRock, which is about 22% above where the stock closed on Monday.
— Jesse Pound
It’s time to review big positions in your portfolio — including in A.I., says Saxo UK CEO
Charlie White-Thomson, CEO of Saxo UK, says "at the heart of it, I remain very worried about the United Kingdom."
U.S. stocks open lower
Morgan Stanley beats second-quarter analyst estimates
The firm reported an adjusted $1.24 per share and $13.46 billion in revenue, while analysts polled by Refinitiv forecasted $1.15 and $15.08 billion.
— Brian Evans
Ocado is a long-term growth story, analyst says
William Woods, senior research analyst at AllianceBernstein, says grocery delivery company Ocado is a "long-term growth story" and "you've got to look at investing in it for the next three, four, five years."
Stocks on the move: Tele2 down 11%, Rational up 4.8%
At the other end of the index, Sweden's Tele2 fell 11.4% after reporting second-quarter earnings. End-user service revenue of 5.3 billion Swedish krona ($519.8 million) was up 4% annually and came in ahead of consensus estimates, but underlying earnings were below forecast.
— Jenni Reid
UK grocery price inflation cools: Kantar
U.K. grocery price inflation cooled for a fourth consecutive month in June, according to a survey by consultancy Kantar, though it remained at an eye-watering 14.9%.
That was down by 1.6 percentage points on the prior month, the steepest decline since the peak in March.
Households would be spending £683 ($894) more year on year on their annual grocery bill, but swaps to cheaper products and discount retailers have led to a £330 increase, according to Kantar estimates.
— Jenni Reid
Ocado up 13% on results; CEO declines to comment on takeover rumors
Shares of British grocery delivery firm Ocado were up 13% at 8:55 a.m. London time after it reported first-half earnings before interest, tax, depreciation and amortization (EBITDA) climbed from a £13.6 million loss to a £16.6 million profit.
Group loss before tax widened from £211.3 million to £289.5 million.
Speaking to reporters, CEO Tim Steiner answered questions regarding a report in The Times newspaper that Ocado has attracted takeover interest from multiple U.S. firms, including Amazon.
"Speculation is speculation, I have nothing to say," Steiner said, Reuters reported.
"Whenever any offers come, as a management team and a board I've got a responsibility to take them seriously, but it's not something I'm out pursuing," he also said, per Reuters.
— Jenni Reid
Europe stocks open mixed
European stocks were mixed in early trade, with the Stoxx 600 index flat at 8:28 a.m.
— Jenni Reid
Europe stocks: Here are the opening calls
China's Evergrande reports steep losses for 2021 and 2022, liabilities also rise
Chinese property developer China Evergrande Group posted steep losses in its long overdue results for 2021 and 2022.
The company saw a total net loss of 686.2 billion yuan ($95.68 billion) for 2021, and a 125.8 billion total net loss in 2022.
For 2022, the majority of the losses were due to losses related to the return of lands, impairment losses on financial assets, and other non-operating losses, which amounted to 69.37 billion yuan.
Evergrande's total liabilities amounted to 2.35 trillion yuan last year, 23% higher compared to 2020, while its total assets stood at 1.8 trillion yuan, 20% lower compared to two years ago.
— Lim Hui Jie
CNBC Pro: After an 80% rally for bitcoin, market experts predict where it's going next in 2023
After a more-than 80% jump in bitcoin's price in the first half of 2023, crypto market watchers tell CNBC Pro how they expect the cryptocurrency to perform in the latter half of the year.
Carol Alexander, professor of finance at Sussex University, Standard Charterd's Geoff Kendrick, and Antoni Trenchev, CEO of crypto lending firm Nexo reveal their forecasts.
— Ryan Browne
CNBC Pro: Barclays sees 'limited benefit' from AI hype for these European chip stocks ahead of earnings
European semiconductor stocks are set to face a "tricky quarter" thanks to a "volatile earnings season" starting this week, according to Barclays.
The investment bank laid out key earnings expectations for ASML, Nokia, STMicro and Infineon, and its medium-term outlook for the chip stocks.
— Ganesh Rao
More than 40 S&P 500 stocks hit fresh 52-week highs
The S&P 500 is up a modest 0.3% Monday morning, but 43 constituents in the broad-market index jumped to new 52-week highs, including a handful hitting their highest levels in decades.
Booking Holdings jumped to a high of $2,938.38, reaching all-time highs dating back to the travel stock's initial public offering in 1999.
Cintas popped to all-time highs dating back to its debut in 1983. The corporate uniform supplier touched a high of $503.70. Cintas posted a beat late last week, with fiscal fourth-quarter earnings of $3.33 per share on revenue of $2.28 billion.
Pest control giant Rollins touched a high of $44.78, an all-time high since it began trading on the New York Stock Exchange in 1968.
-Darla Mercado, Chris Hayes