Market Analysis

European shares started the trading day on a subdued note on Tuesday, with investors sifting through a flood of corporate earnings reports from major players across industries. Attention was also focused on economic indicators, particularly the euro zone's inflation figures for April.

The STOXX 600 index, representing stocks across the continent, remained flat as of 0710 GMT, but was on track to register its first monthly decline in six months.

Investors were keenly awaiting the flash April inflation data and first-quarter GDP figures for insights into the European Central Bank's future interest rate decisions beyond June.

Mercedes-Benz saw its shares decline by 2.7% after announcing a 30% drop in first-quarter earnings, while committing to avoiding price wars.

Stellantis (LON:0QXR) experienced a 2.2% decrease in its stock value following a significant decline in first-quarter revenue for the Franco-Italian automaker.

Vonovia's shares surged by 5% after the largest German real estate company returned to profitability in the first quarter.

HSBC (LON:HSBA) shares rose by 2.3% after the bank revealed its quarterly results, unveiled a share buyback program, and announced the surprise retirement of CEO Noel Quinn.

Logitech witnessed a 6% increase in its stock price after the Swiss-American computer peripheral manufacturer surpassed expectations with its full-year outlook and fourth-quarter results.

Paraphrasing text from "Reuters" all rights reserved by the original author.