2017.08.0821:06:00UTC+00European Stocks Climbed as Auto, Utilities, Energy Gains

European equities advanced on Tuesday as gains in auto, energy and utilities stocks counterbalanced declines from Pandora after weak results.

The pan-European STOXX 600 index rose 0.2 percent, as blue chips climbed 0.4 percent. The U.K.'s FTSE 100 added 0.2 percent while Germany's DAX was up 0.3 percent.

Almost 51 percent of the firms have surpassed expectations, with this figure increasing to 55 percent for the wider MSCI Europe universe.

The majority of the outperformance was down to energy stocks and financials, the main drivers of earnings growth, Deutsche Bank strategists said.

Jewelry maker Pandora tumbled 14 percent following second quarter results which fell short of estimates.

Nokian Renkaat was at the top of the European benchmark, jumping more than 6.5 percent up after a solid second-quarter earnings report. The tire maker profited from higher Russian demand and a stronger ruble. It helped autos stocks increase by 0.5 percent.

German power plant and energy trading group Uniper rose nearly 3.4 percent after it lifted its outlook for operating profit and dividend, which helped the utilities sector outperform.

Travel and leisure stocks were the worst performers following weaker-than-anticipated earnings. Paddy Power posted lower revenues in the second quarter of the year, a day after the betting company saw its shares drop almost five percent.