HSBC rises after Q3 profit beat
German consumer confidence improves to 18.3
Sweden39;s economy shank 0.1 in Q3
STOXX 600 up 0.2

Oct 29 Reuters Europe39;s benchmark index inched marginally higher on Tuesday, boosted by bank stocks after HSBC39;s upbeat thirdquarter earnings, although poor reports from other regional companies kept a lid on gains.

The panEuropean STOXX 600 was up 0.2 to 522.08 points, after opening at a oneweek high of 522.93.

The banking sector rose 1, led by a 4 gain in HSBC Holdings after the Asiafocused bank reported a betterthanexpected thirdquarter profit and said it would buy back shares worth up to 3 billion.

Orkla rose 4.7 and was the top gainer on the STOXX 600 by percentage, after the Norwegian food processing company reported thirdquarter profit above estimates.

Keeping gains at check, BP lost 0.9 after the energy giant reported thirdquarter profit of 2.3 billion, their lowest in almost four years.

Wartsila tumbled 13.3 after the Finnish engineering group39;s thirdquarter order intake missed market expectations.

Novartis fell 2.7, despite the Swiss drugmaker raising its 2024 earnings guidance for the third time.

On the economic front, German consumer sentiment increased more than expected going into November, rising to 18.3 points from a slightly revised 21.0 the month before. The country39;s benchmark DAX ticked 0.5 higher.

Meanwhile, Sweden39;s economy shrank 0.1 in the third quarter compared with the previous quarter, preliminary…