12:23 PM EDT, 04/28/2026 (MT Newswires) -- European stock markets closed mostly lower in Tuesday trading with the Stoxx 600 down 0.4%, Germany's DAX shedding 0.2%, the FTSE 100 rising 0.1%, France's CAC decreasing 0.5%, and the Swiss Market Index easing 0.1%.

In economic news, continental consumers in March expected inflation in the next 12 months to log at 4%, up from the 2.5% rate in February, the European Central Bank said.

In corporate news, BP reported Q1 underlying replacement cost profit Tuesday of $1.24 per American depositary share, up from $0.53 a year earlier. Sales and other operating revenue for the quarter totaled $52.26 billion, up from $46.91 billion a year earlier. Analysts polled by FactSet expected $49.4 billion. BP shares rose 1.1% in London.

Novartis reported Q1 core earnings Tuesday of $1.99 per share, down from $2.28 a year earlier. Analysts polled by FactSet expected $2.19. Net sales for the quarter ended March 31 were $13.11 billion, down from $13.23 billion a year earlier. Analysts surveyed by FactSet expected $14.14 billion. Novartis shares added 0.6% in Switzerland.

Barclays has reserved 228 million British pounds ($307.9 million) in Q1 to cover the collapse of specialty lender MFS, Bloomberg reported Tuesday. The bank said in a regulatory filing that its Q1 credit impairment charges increased to 823 million pounds, up from 643 million pounds a year earlier, in an increase "primarily driven by a single name charge of 228 million pounds." Barclays shares shed 0.2% in London.

HSBC said Tuesday it has expanded its fund administration capabilities in Saudi Arabia to include private assets. The bank said it now provides fund administration for clients investing in both traditional and private assets. HSBC said it currently services more than $165 billion in private assets across multiple fund jurisdictions. Its shares rose 0.9% in London.