European markets opened higher on Tuesday, with the Stoxx 600 index adding 0.35% shortly after trading began.

Sectors were all in positive territory, with mining stocks leading gains, last up 1.3%.

Regional bourses were also broadly higher, with the U.K.’s FTSE 100 rising 0.4%, while France’s CAC 40 added 0.28% and Germany’s DAX inched 0.1% higher.

— Sophie Kiderlin

Imperial Brands on Tuesday reported a 4.6% annual increase in adjusted operating profit to £3.91 billion ($4.96 billion) for its full fiscal year that ended on Sept. 30. The hike was ahead of analyst expectations, according to Reuters.

The company said the rise was driven by “improved profitability” in its tobacco and next generation products business, along with its distribution arm.

Within the tobacco division, adjusted operating profit rose 2.5%.

— Sophie Kiderlin

Germany’s Thyssenkrupp on Tuesday reported a 1-billion-euro ($1.06 billion) impairment on its struggling steel division as the industrial powerhouse flagged “gloomy volume” expectations and structural challenges in the sector.

The firm said its net loss of 1.5 billion euros in the fiscal year ending Sept. 30 — after deducting minority interest — was mainly due to asset impairments totaling around 1.2 billion euros, of which 1 billion euros were undertaken by its Steel Europe division.

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— April Roach

European markets are expected to open higher Tuesday.

The U.K.’s FTSE 100 index is expected to open 39 points higher at 8,144, Germany’s DAX up 53 points at 19,227, France’s CAC up 24 points at 7,298 and Italy’s FTSE MIB up 115 points at 34,002, according to data from IG.

Earnings come from Imperial Brands and Thyssenkrupp and finalized euro zone inflation data for October is due.

— Holly Ellyatt

Indian markets have been under pressure in recent weeks, but strategist Matt Orton remains bullish on the country, revealing “one of his favorite” stocks right now.

“India has been my most overweight country and that still remains the fact outside of the U.S.,” the chief market strategist at asset management firm Raymond James Investment Management said, naming a stock that is one of his favorites.

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— Amala Balakrishner

One reason the postelection rally for stocks appears to have stalled may be that investors are growing less confident in the rate cut path of the Federal Reserve.

According to the CME FedWatch Tool, trading in the fed funds futures market currently implies a 62.1% likelihood of a rate cut in December. That is down from 65.3% a week ago, and 76.8% a month ago.

Jim Baird, chief investment officer at Plante Moran Financial Advisors, said recent signs of continued strength for the economy could lead to the Fed slowing its pace of cuts.

“It is going to call into question how much more they need to cut, and how quickly. I think that’s what they’ve really been hinting at — that they’re going to be patient, they’re going to be data dependent, and that could mean a slower pace of rate cuts than either their forecasts have suggested or the market was expecting,” Baird said.

Baird added that the effect of the election, such as the potential for higher tariffs under President-elect Donald Trump, “exacerbate” those questions about how much the Fed will cut.

— Jesse Pound

Three Wall Street banks have taken differing views on gold’s trajectory in 2025, reflecting the complex economic outlook.

Goldman Sachs expects the price of the yellow metal to reach $3,000 per ounce by December 2025, saying “Go For Gold” in a note from Nov. 17.

Others, however, including JPMorgan and UBS, have taken a different view.

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