Kongsberg tracks best day in 5 months on strong Q2 results
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STOXX 600 up 0.2

July 10 Reuters European shares advanced on Wednesday led by corporate earnings, although gains were limited by weak oil and metal prices, while investors awaited Federal Reserve Chair Jerome Powell39;s second day of testimony for more clues on interest rates.

The panEuropean STOXX 600 rose 0.2 by 0815 GMT, led by a more than 1 rise in real estate shares.

Limiting the gains, basic resources was down 0.5 as crude oil and base metals prices declined.

French stocks were up 0.2 after falling in the previous session, as investors assessed the political situation following Sunday39;s legislative election.

Powell on Tuesday said inflation remains above the Fed39;s 2 target, but has been improving in recent months and more good data would strengthen the case for interest rate cuts.

His second day of monetary policy testimony before the House Financial Services Committee is scheduled for 1000 GMT.

Markets are also awaiting June inflation data out of the U.S. and Germany due on Thursday.

On quarterly earnings forecast, Deutsche Bank analysts in a note said, we expect both earnings and sales to have increased slightly in Q2, marking the first positive yoy growth rate since Q1 2023.

Norwegian aerospace and defence company Kongsberg Gruppen climbed 8.1 to the top of the benchmark index after…