European Markets Overcome Geopolitical Tensions and Contracting German Economy to Close Higher

European markets closed higher despite geopolitical tensions, with London-listed shares opening 0.8% higher. German gross domestic product recorded a 0.1% quarterly fall, slightly better than expected. HSBC reported a 235% rise in profit but lower than expectations, announcing an additional share buyback. Siemens Energy shares rose after the chair clarified that talks with the German government were about supporting growth, not state aid. U.S. stocks opened higher, gold miners are heading for their best month since March, and the 10-year U.S. Treasury yield topped 4.9%. The German economy remains "stuck in stagnation," and the WTO chief warned that global growth will be impacted if the Israel-Hamas conflict spreads. Japan's 10-year bond yield edged closer to an 11-year high as the Bank of Japan's meeting kicked off. Chinese tech giants still have value despite regulatory clampdowns, and an under-the-radar networking stock is set for an AI boost. European markets are expected to open mixed.