European stocks were slightly higher Tuesday morning, as investors monitored simmering global trade tensions and the latest batch of corporate earnings.
The pan-European Stoxx 600 edged up around 0.3 percent during early morning deals, with most sectors and major bourses in positive territory.
Europe's autos stocks were among the top performers, up around 0.8 percent amid earnings news. German auto supplier Schaeffler reported a rise in first-half net profit and increased its 2018 revenue guidance for its industrial division. Shares of Schaeffler were more than 6 percent higher on the news.
Looking at individual stocks, Commerzbank posted stronger-than-anticipated net profit in the second quarter on Tuesday, but the lender warned of higher costs to its corporate clients this year amid "intense competition." Its shares were more than 3 percent lower on the news.
Meanwhile, shares of Danish jewelry maker Pandora slumped to the bottom of the European benchmark after it slashed its guidance for 2018. The company now expects revenue to increase between 4 and 7 percent in local currency this year, having previously expected between 7 and 10 percent. Pandora's latest profit warning comes just a few months after the firm revised its mid-term targets. Shares of the Copenhagen-listed stock tanked over 18 percent during early morning deals.
Economic dataOver in Asia, stocks navigated through choppy trade amid trade jitters, following a day of gains from Wall Street. China Daily, the official newspaper controlled by Beijing, said on Tuesday that President Donald Trump's claim to winning the ongoing trade war between the two due to a fall in Chinese stocks was "wishful thinking." China's two largest bourses, the Shanghai composite and the Shenzhen composite, have lost a quarter of their value since the start of the year.
