European Stocks Climbed, Buoyed by Earnings, Economic Data

European shares advanced on Tuesday as corporate earnings reports incited quick trading while recent data indicated a strong euro-area economy.

The pan-European Stoxx 600 climbed 0.6 percent. Blue chips rose 0.9 percent, their best one-day gain in three weeks. Germany's DAX was up 1.1 percent and Britain's commodities-heavy FTSE 100 added 0.7 percent as oil stocks increased.

The European second-quarter earnings season is nearing the halfway mark and so far 60 percent of MSCI Europe companies have met or exceeded analysts' expectations, according to Thomson Reuters data.

BP climbed 2.4 percent, which pushed energy shares towards the best performance among industry groups.

Rolls-Royce rose ten percent after its first-half profit more than doubled. The company was the largest contributor to gains in the Stoxx 600.

Testing company Intertek Group, insurer Direct Line and Dutch chemicals firm DSM, which all added between 5.8 percent to nine percent on the back of well-received results.

Lender CYBG gained 9.3 percent after it said that mortgages increased in the second quarter and the net interest margin improved.

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