European stocks rise supported by real estate and BP is hurting the energy sector

European shares rose on Tuesday, led by real estate and chemicals shares, as investors weighed a batch of economic data, while BP’s weak third-quarter earnings weighed on the energy sector.

By 0826 GMT, the European STOXX 600 index rose 0.2 percent, but was heading for its worst monthly performance since September 2022.

Data showed German retail sales fell in September due to persistently high inflation, while the French economy grew 0.1% in the third quarter.

The real estate and chemicals sectors rose by more than 1 percent each.

But the energy sector was the worst performer due to a 4.2 percent drop in BP shares after third-quarter profits fell short of analysts’ expectations.

Siemens Energy shares fell 2.4 percent after sources said that the company is considering selling part of its 24 percent stake in Siemens Limited, listed in India, to the former parent company Siemens AG, with the aim of supporting the balance sheet. Siemens AG shares fell 0.2 percent.