BMW said it approved another share buyback program. The German luxury-car maker on Tuesday said this third program has a volume of up to 2 billion euros, equivalent to $2.25 billion, and is scheduled to start this month. It is applicable to both ordinary and preferred shares, though the volume of preferred shares is limited to €350 million, the company said. The program will be concluded no later than April 30, 2027 and further details will be announced prior to and during the program, BMW said.

The Switzerland market suffered a mild setback in early trades on Tuesday, but recovered soon and then stayed firm right till the end of the session to finish with a modest gain. Investors tracked corporate news and the developments on the geopolitical front. The benchmark SMI closed up 51.26 points or 0.41% at 12,408.03. The index dropped to a low of 12,329.90 in early trades. Adecco climbed nearly 2.5% and Sandoz Group gained 2.22%. Novartis ended almost 2% up, while Swatch Group, Swisscom, Roche Holding and Sika gained 1.27 to 1.5%. Holcim, Nestle, SIG Group, Geberit, ABB and Swiss Re posted moderate gains. Shares of DocMorris zoomed nearly 14% after Polish medical products wholesaler Pelion acquired a 9.68% stake in the Swiss online pharmacy company. UBS Group ended down 3.28%. VAT Group drifted lower by about 2.7% after lowering its 2027 sales outlook. Partners Group, Lonza Group and Straumann Holding closed down 1.8%, 1.74% and 1.1%, respectively.

Europe
European stocks closed broadly higher on Tuesday amid easing tariff worries, and expectations that Russia and Ukraine would soon begin ceasefire negotiations. The UK-EU trade agreement on Monday contributed as well to the positive mood in European markets. Investors also continued to react to corporate earnings updates, and looked ahead to upcoming economic data from major European countries and the U.S. The pan European Stoxx 600 gained 0.73%. The U.K.'s FTSE 100 climbed 0.94%, Germany's DAX gained 0.42%, hitting a new record high in the process, and France's CAC 40 closed 0.75% up. Switzerland's SMI ended with a gain of 0.41%. Among other markets in Europe, Austria, Belgium, Denmark, Finland, Greece, Ireland, Portugal, Spain and Sweden closed with sharp to moderate gains. Czech Republic, Netherlands, Norway and Poland posted marginal gains, while Iceland, Russia and Turkiye ended notably lower. In the UK market, Diploma soared more than 15% after the technical products and service distributor raised its full-year organic revenue growth forecast after reporting robust half-year financial growth. Vodafone Group gained nearly 6% as the company launched a share buyback program. Smiths Group ended nearly 4.5% up. The conglomerate said annual organic revenue growth would reach the top end of its 6-8% forecast range. Shares of engineering firm Senior Plc gained 1.75% after securing two new contracts valued at about €200 million. Centrica gained 3.3% after the company and its subsidiary Spirit Energy reduced their stake in the UK North Sea's biggest gas field to Ithaca Energy in a deal worth £215million. Sainsbury (J), Lloyds Banking Group, Glencore, Aviva, SSE, Imperial Brands, Whitbread, Associated British Foods, British American Tobacco and Howden Joinery gained 1.9 to 3.3%.

United States
After recovering from an early slump to end the previous session slightly higher, stocks moved back to the downside during trading on Tuesday. The major averages all moved to the downside, although selling pressure remained somewhat subdued. The major averages climbed well off their worst levels going into the end of the day remained in negative territory. The Dow fell 114.83 points or 0.3 percent to 42,677.24, the Nasdaq slid 72.75 points or 0.4 percent to 19,142.71 and the S&P 500 declined 23.14 points or 0.4 percent to 5,940.46. The weakness on Wall Street came as some traders looked to cash in on the strong upward move seen over the past several weeks. The major averages have climbed well off their April lows amid easing trade concerns, with the Nasdaq and the S&P 500 reaching their best levels in almost three months. However, JPMorgan Chase (JPM) CEO Jamie Dimon has warned stock market values may not properly represent the risks of higher inflation and even stagflation. Home Depot said it plans to hold the line on prices. The retailer has been pushing to source more of its supplies from outside of China. It is also working with suppliers to keep prices steady despite tariffs, Chief Financial Officer Richard McPhail said in an interview. Last week, Walmart announced that it would raise prices because of tariffs, prompting President Trump to criticize the company. Kering Eyewear today announced a partnership with Google for the development of AI-powered glasses with Android XR, combining cutting-edge design, intelligent features, and human-centric technology in one device. The collaboration marks a new chapter in design smart glasses as it will leverage the undisputed high-end eyewear expertise of Kering Eyewear and Google's revolutionary technological innovations within extended reality.

Asia
On Wednesday, the East Asian and Australian stock markets are taking the previous day's momentum with them and are mostly rising in late trading. In Japan, however, weak trade data weighed on the markets. However, the monetary policy easing in China and Australia, which had already put investors in a good mood the previous day, continues to provide fundamental support. The Nikkei-225 lost 0.3 per cent to 37,430 points. In addition to the strong yen, weak trade data also weighed on the market. This is because Japan felt the effects of higher tariffs in April and exported less to the US for the first time in four months.

Bonds
In the U.S. bond market, treasuries bounced back near the unchanged line after an early slump. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 4.481 percent after reaching a high of 4.523 percent.

Analysis
HSBC raises the Enel target to EUR 8.80 (8.10) – Buy
UBS raises the Schott Pharma target to EUR 29.20 (28.20) – Buy
UBS raises the Gea target to EUR 67 (59) – Buy