European stocks as Ukraine war, Powell comments weigh on sentiment

LONDON — European stocks nudged higher on Tuesday as investors continued to monitor the war in Ukraine and economic developments in the United States.

The pan-European Stoxx 600 gained 0.4% by early afternoon, with banks adding 2.3% to lead gains while health care stocks fell 0.8%.

In terms of individual share price movement, German construction software company Nemetschek jumped more than 7% to lead the European blue chip index after posting strong full-year earnings and promising forward guidance.

At the bottom of the Stoxx 600, Britain’s Oxford Nanopore Technologies fell 8.5% after posting a deepening full-year net loss.

Investors continue to watch the situation in Ukraine as ongoing peace talks between Moscow and Kyiv fail to make progress. On Monday, Ukraine refused to surrender the port city of Mariupol to Russian forces following an ultimatum from Moscow.

President Volodymyr Zelenskyy told Eurovision News that ultimatums won’t work as trapped Ukrainians will “fight till the end.”

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