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European stocks and the dollar are rising amid the earnings wave, reducing viruses

On July 16, 2020, an employee wearing a protective face mask assembles a battery pack for electric cars at the assembly line at the PSA Peugeot Citroen factory in Trnava, Slovakia.

vladimir simicek / Agence France-Presse / Getty Images

European equities and the dollar rose on Tuesday, reversing the sour tone of the previous day as traders processed a wave of corporate results on both sides of the Atlantic and the latest corona virus news.

Monday 0.3% lower, the Stoxx Europe 600 SXXP,
+ 0.13%
rose 0.2%.

The euro EURUSD,
-0.41%
declined and was trading at $ 1.1731 versus $ 1.1753 on Monday, when it reached its highest level since September 25, 2018. Gold futures remained stable after gains of $ 33.70 an ounce on Monday, reaching new record highs.

The U.S. coronavirus count has improved, with deaths, new cases and the positive test rate dropping on Monday, according to data from the COVID-19 project. That improvement comes when Moderna started late in its COVID-19 vaccine and Republican legislators introduced the latest stimulus package to offset the economic disruption of the coronavirus.

Investors largely welcomed the Tuesday news.

Peugeot UG,
+ 3.08%
shares rose 3.2% as the French automaker made a surprising profit for the first half of the year. Peugeot plans to complete the merger with Fiat Chrysler Automobiles FCA,
+ 3.05%
before the end of the first quarter of 2021.

B&M European Value Retail BME,
+ 3.63%
won 4% as the UK retailer said adjusted first-half EBITDA will exceed analyst expectations.

Delivery Hero DHER,
+ 3.06%,
the German food service company rose 2.9% after raising revenue expectations for the fiscal year, saying it will exceed 1 billion orders on its platforms.

LVMH Must Hennessy MC,
-4.58%
Shares were down 3.3%, as the luxury goods giant reported an 84% decline in first-half profit with a 27% decline in sales.

After winning 115 points for the Dow industrials DJIA,
+ 0.43%
on Monday, US equity futures ES00,
+ 0.00%
were stable. US earnings results are available from Pfizer and 3M, and after the closing of Starbucks and Visa.

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