The European stock markets closed sharply higher for the second straight session in Tuesday trading as the Stoxx Europe climbed 1.33%, Germany's DAX gained 0.57%, the FTSE 100 advanced 1.15%, France's CAC rose 1.25%, and the Swiss Market Index surged 1.98%.
In Germany, expectations about Europe's largest economy were down in November, as the ZEW Economic Sentiment indicator declined to 38.5 points from 39.3 in October, and below analyst forecasts of 41.0, according to Bloomberg. Meanwhile, ZEW's index assets current conditions improved in November to -78.7 points from -80 in October, but fell short of the -77.5 expected by analysts.
In the UK, the employment rate for payrolled workers was 0.1% lower in September compared with August, and was down 0.4% compared with a year earlier, according to the Office for National Statistics.
And in corporate news, Novo Nordisk has cut its price for weight management drug Wegovy by up to 33% in India, Reuters reported Tuesday, citing a document sent by the company to distributors. The price cut comes shortly after Eli Lilly's Mounjaro became India's top-selling drug by value in October, according to the report.
Shares of the Danish pharmaceutical company advanced 6.4% in Copenhagen.
UBS' migration of ultra-high-net-worth Credit Suisse clients to its platforms in Switzerland is 'proceeding as planned', a UBS spokesperson told MT Newswires on Tuesday, after Reuters reported that some transfers had been delayed by several months.
Reuters said UBS had planned to complete all client transfers in Switzerland by the end of March but has postponed some moves originally scheduled for September to January, with additional migration waves now planned for February and March.
Shares of the Swiss banking giant gained 1.1% in Zurich.
Shares of British telecommunications operator Vodafone rose 7.6% on the FTSE 100 after it reported fiscal Q2 revenue Tuesday of 10.22 billion euros ($11.82 billion), up from 9.24 billion euros a year earlier. An analyst surveyed by FactSet expected 10.32 billion euros.
Shell is challenging Venture Global's earlier win in an arbitration case over the latter's failure to deliver liquefied natural gas under long-term contracts while selling on the spot market as prices surged following the outbreak of the war in Ukraine, Reuters reported Tuesday, citing a legal filing.
Shell claims Venture Global held back important evidence in the arbitration case and that the company earned more than $20 billion from spot market sales between 2022 and 2025, according to the report.
A Shell spokesperson confirmed the appeal filing to MT Newswires and said Shell is seeking to nullify the Tribunal's liability award.
Venture Global didn't immediately respond to MT Newswires' request for comment.
Shares of the British oil and gas company were up 2.1% in London.
Ryanair said Tuesday that it will base a fourth aircraft at Midwest Ireland's Shannon Airport during the upcoming summer season, representing a $400 million investment in the region. The plane will add more than 180,000 additional seats to Shannon's capacity as well as enable new routes to Rome, Madrid, Warsaw, and Poznan.
Shares of the Irish airline operator gained 0.41% in Dublin.