European stocks inched higher on Tuesday, helped by mining giant Anglo American's share price surge after it unveiled a merger with Canada's Teck Resources.
Elsewhere, Unilever elaborated on the planned demerger of its Magnum ice cream brand on Tuesday.
Shares of The Magnum Ice Cream Company (TMICC) are expected to float in Amsterdam, London and New York in mid-November this year, with Unilever retaining a minority stake in the firm. Over time, that stake will be wound down.
In a presentation at its Capital Markets Day on Tuesday, Unilever said TMICC would be the largest ice cream company in the world, with 21% of global retail market share. From 2026 onward, the company said it expected TMICC's medium-term organic sales growth to hit 3% to 5% annually.
Unilever shares closed 1.77% lower.
Asia-Pacific markets traded mostly higher Tuesday, while U.S. stocks were little-changed after the Nasdaq Composite hit a new record on Monday.
Investors stateside are keeping a close eye on inflation reports this week: the U.S. producer price index report for August is due on Wednesday morning, followed by the consumer price index on Thursday.
The inflation prints will be coming after weaker-than-expected hiring data on Friday, which helped fuel investor hope that the U.S. Federal Reserve is likely to lower benchmark interest rates at its policy meeting next week.
