11:42 AM EDT, 06/16/2026 (MT Newswires) -- The European stock markets were modestly higher in Tuesday trading as the markets reacted positively to a US-Iran peace deal, but were still cautious about inflation, central-bank policies, and earnings concerns.

The Stoxx Europe rose 0.2%, Germany's DAX edged 0.1% higher, the FTSE 100 increased 0.6%, France's CAC advanced 0.7%, and the Swiss Market Index gained 0.2%.

In corporate news, Novo Nordisk plans to apply for Chinese regulatory approval of its oral weight-loss drug, Wegovy, within the next few months, Reuters reported Tuesday, citing Chief Executive Mike Doustdar.

According to the report, Eli Lilly submitted a marketing application in China for its oral obesity drug late last year, putting the company ahead of Novo in the race to launch a weight-loss pill in the country.

Shares of the Danish pharmaceutical company fell 0.6% in Copenhagen.

Mining companies BHP and Rio Tinto see India as the next major growth engine for global steelmaking, with rising demand and new capacity additions expected to help offset slowing growth in China, Bloomberg reported Tuesday.

BHP's Sales and Marketing Officer Michiel Hovers said customers in India are doubling capacity and that the company is well positioned to support the country's growth, according to the report.

BHP and Rio Tinto didn't immediately respond to a request for comment from MT Newswires.

Shares of the BHP were up 0.4%, and Rio Tinto shares were down 0.4% in London.

STMicroelectronics said Tuesday it launched a $1.5 billion offering of senior unsecured convertible bonds and plans to redeem its outstanding $750 million zero-coupon convertible bonds due 2027.

The company said the new offering consists of two tranches: five-year bonds due 2031 and seven-year bonds due 2033, with a minimum size of $500 million per tranche.

Shares of the French semiconductor company dropped 4% in Paris.

Shell's electric vehicle charging service Shell Recharge and SINEXCEL have launched a joint laboratory in Shenzhen, China, to develop EV charging technologies and energy solutions, the Chinese energy technology company said Tuesday.

The companies also signed a memorandum of understanding covering collaboration in research and development, technical exchange and pilot projects, SINEXCEL said.

Financial terms were not disclosed.

Shares of the British oil and gas major were off 0.7% in London.