12:08 PM EDT, 05/05/2026 (MT Newswires) -- European stock markets were mostly higher Tuesday as oil prices fell, while several major European companies reported earnings.

The Stoxx Europe 600 gained 0.7%, Germany's DAX 40 rose 1.7%, France's CAC 40 climbed 1.1%, the Swiss Market Index advanced 0.4%, while the FTSE 100 fell 1.4%.

In corporate news, HSBC reported Q1 earnings of $0.40 per diluted share, up from $0.39 a year earlier. Three analysts polled by FactSet expected $0.42. Revenue rose to $18.62 billion from $17.65 billion, topping the $18.60 billion consensus.

Shares of HSBC fell 7% in London.

BioNTech reported a Q1 adjusted loss of 1.95 euros ($2.28) per diluted share, widening from the loss of 1.79 euros a year earlier. Analysts polled by FactSet expected a loss of 1.27 euros. The company plans to exit operations at manufacturing sites in Idar-Oberstein and Marburg, both in Germany, and in Singapore, as well as CureVac-operated sites, affecting up to about 1,860 positions.

The German biotech firm's stock fell 4.4% in Frankfurt.

SAP intends to expand access to its artificial intelligence solutions to some customers who do not have their systems on its cloud services, Bloomberg reported.

Shares of the software firm rose 1% in Frankfurt.

Shell (SHEL) and INEOS Energy agreed to jointly invest in oil and gas exploration and development opportunities in the Gulf of Mexico, expanding their collaboration around existing infrastructure.

Equinor said the Eirin field has begun production, exporting gas to Europe via the Gina Krog platform and Sleipner A platform.

Shares of the Norwegian petroleum producer rose 1.8% in Oslo.