European shares inch higher, supported by utilities and telecom
European
stocks
edged up on Tuesday, with utilities and telecom firms leading gains as investors awaited updates on U.S. tariff policy that has raised concerns about health of the global economy.
The pan-European STOXX 600 index was up 0.2% by 0725 GMT, hovering at a seven-week high.
Utilities rose 1.1%, with Portugal's EDP Renovaveis climbing 3.5% after Deutsche
Bank
upgraded the stock to "buy" from "hold."
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Shares
of renewable energy firms Oersted jumped 13.3% and Vestas Wind 4% after U.S. President
Donald Trump
's administration lifted a month-old stop-work order on a major offshore wind facility planned off the coast of New York.
Broader markets also stabilised after a surprise downgrade by Moody's on U.S. sovereign credit late on Friday sapped risk appetite.
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Investors are also awaiting any trade deals, with Trump's reciprocal tariffs set to kick in again in early July.
Among other stocks, Salmar dropped 4% after the Norwegian salmon farmer reported lower-than-expected first-quarter operating profit.
In the UK, fast food chain Greggs, Upper Crust owner SSP Group and distributor Diploma climbed between 3.7% and 14.5% after reporting results.
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