European Shares Flat To Higher As Investor Await Powell's Testimony

(RTTNews) - European stocks were flat to marginally higher on Tuesday, with U.S. President Donald Trump's tariff announcement on metals and an upcoming semi-annual monetary policy testimony from Federal Reserve Chair Jerome Powell in focus.

In economic releases, France's unemployment rate dropped marginally in the fourth quarter, the statistical office INSEE reported.

The jobless rate fell unexpectedly to 7.3 percent from 7.4 percent in the third quarter while analysts had expected the rate to rise to 7.5 percent.

The number of unemployed decreased 63,000 sequentially to 2.3 million.

The pan European STOXX 600 was marginally higher at 545.94 after rising 0.6 percent on Monday.

The German DAX rose 0.2 percent, while France's CAC 40 and the U.K.'s FTSE 100 were little changed.

Steelmakers were coming under selling pressure, with Thyssenkrupp falling 1.3 percent and Salzgitter declining 0.8 percent.

British oil major BP Plc edged down slightly after reporting a steep drop in profits for the fiscal quarter of last year.

Sports betting firm Entain slumped 11 percent as Chief Executive Officer Gavin Isaacs stepped down with immediate effect after less than six months in the role.

Novartis traded modestly higher. The Swiss pharmaceutical giant has agreed to acquire Anthos Therapeutics for up to $3.1 billion.

Luxury group Kering jumped 5 percent in Paris after posting better-than-expected sales in the fourth quarter.

Austrian sensor maker Ams-OSRAM soared 18 percent. The company forecast recovery in the second half of 2025 after posting disappointing Q1 sales amid muted demand for its automotive semiconductors.

Italian lender UniCredit tumbled 3.3 percent despite posting better-than-expected 2024 earnings.