Investors reviewed several corporate earnings reports on Tuesday morning.

In Europe, Philips (+8.59%) stood out on the Amsterdam Stock Exchange after publishing its quarterly and annual results, as well as its short- and medium-term targets. In the fourth quarter, comparable sales rose by 7% to €5.10 billion, beating the consensus estimate of +4.9% and KBC Securities' forecast of +5.1%. This strong performance was driven by robust growth in the Connected Care (+6.6%) and Personal Health (+13.6%) segments, while the Diagnosis & Treatment division lagged behind (+3.7%).

Meanwhile, in London, BP (-4.74%) posted one of the steepest declines on the FTSE 100. The British oil giant disappointed shareholders after announcing a suspension of its share buyback program to strengthen its balance sheet, following a net loss of €3.4 billion. Nevertheless, net debt fell by 15% year-on-year.

TUI (-5.09%) slid despite the European travel group reporting "the best first quarter in its history," managing to halve its losses in the first quarter of its fiscal year (October-December).

Kering Shines as Session's Star Performer

In Paris, Kering led the CAC 40 with the largest gain. Surging by 10.99%, its quarterly results lifted other luxury heavyweights like LVMH and Hermès, which are crucial to the CAC's overall performance. Kering benefited from a fourth quarter that was less deteriorated than feared, with sales declining by only -3%.

Despite a heavily impacted 2025 fiscal year (net income of €72 million) for the luxury group, the market focused on sequential improvement and the first signs of a recovery at Gucci. New collections and the promise of a strategic plan in April are fueling anticipation of a rebound in 2026.

On the economic front, the number of unemployed people in France (excluding Mayotte) as defined by the ILO increased by 56 000 in the fourth quarter of 2025 compared to the previous quarter, reaching 2.5 million people, according to Insee. The ILO unemployment rate thus stood at 7.9% of the active population, up 0.2 points from its level in the third quarter of 2025 and at its highest since the third quarter of 2021, but still well below its mid-2015 peak.

As the session continues, investors are awaiting several U.S. data releases this afternoon, including import prices and retail sales for December, followed by business inventories for November.

By noon, the euro was down 0.05% at $1.1909.