Europe's STOXX 600 closes at record high as earnings, tech gains lift sentiment

Europe's STOXX 600 closed at a record ​high on Tuesday, lifted by gains in technology stocks and a slate of corporate earnings ‌updates that helped boost sentiment, while falling oil prices provided further support.

The pan-European STOXX 600 index  was up 0.7% to 656.86 points at close, surpassing the previous record set in early July.

"European main indexes (have been) flirting with record levels since the end of last month. ​But already in the past few months, we have seen consecutive months of gains. One of ​the main reasons is definitely the rising corporate profits," said Ruben Dalfovo, Investment Strategist at ⁠Saxo Bank.

With the European earnings season gathering pace, investors sifted through company updates for clues on ​the region's business outlook.

Shares in Bayer rose 2.4% after the German pharmaceuticals group reported an unexpected 1.9% increase in quarterly ​operating profit.

Europe's largest bank HSBC  shares edged lower 0.8%, after hitting a fresh all-time high earlier on Tuesday, despite reporting a better-than-expected first-half profit and raised its net interest income target.

Dalfovo said HSBC delivered strong earnings growth, but that the results ​failed to excite investors as expectations were already high after the stock's strong run over the past few ​years.