2018.02.2021:32:00UTC+00European Markets Mostly Higher Amid Upbeat Earnings

European equities gained on Tuesday, as investors brushed off volatility concerns and focused on stronger-than-expected corporate results.

The pan-European Stoxx 600 increased by 0.60 percent provisionally, with most of the sectors ending in the green.

On the bourses front, the U.K.'s FTSE 100 finished trade roughly flat, down 0.01 percent, while France's CAC 40 and Germany's DAX advanced, up 0.64 percent and 0.83 percent respectively.

A weaker euro also helped eurozone stocks make headway following a weak start to the week.

Chemicals was a top performing sector, closing up 1.17 percent boosted by Covestro, which closed up 3.33 percent. The German manufacturer said it had generated cash at a faster rate than previously thought in its quarterly earnings. Covestro now believes it will reach its cumulative operating cash flow target of 5 billion euros ($6.19 billion) in 3 years, rather than in 5 years.

Energy stocks supported indices, with BP, Total, Royal Dutch Shell and ENI up between 0.2 percent and 1.6 percent.

SimCorp climbed to the top of the STOXX 600, soaring more than 12 percent by the close after posting solid growth in its fourth quarter, and stating that its dividend payout for 2017 would be higher. France's Edenred rose 6.5 percent on the back of strong earnings that saw the company's earnings before interest and tax, and net profit for 2017, reach record levels.

HSBC fell three percent after its trading update, the last under outgoing CEO Stuart Gulliver, who has pushed through a painful restructuring of Europe's biggest bank by market value. Credit Suisse analysts said HSBC's pledge to undertake share buybacks “as and when appropriate” could mark a change in capital-return strategy by the new management.