European Shares Steady After Greek Rally

European shares steadied on Tuesday after a nine-session rally, with the attention of investors shifting away from Greece and toward the quarterly corporate-earnings season.

In early trade, the Stoxx Europe 600 rose 0.1%, broadly in line with country indexes in Germany, France and the U.K. As of Monday's close, the region's benchmark index had enjoyed its longest winning streak since April 2014, largely fueled by Greece reaching an agreement on debt with its international creditors that helped it to avoid a costly exit from the eurozone.

Some strategists have said, however, that in order for the stock-market rally to continue, earnings reports have to meet or beat analyst expectations this season.

One of the best performing companies on the Stoxx Europe 600 in early trade on Tuesday was Akzo Nobel NV. Shares in the Dutch paint and chemicals maker rose after the group reported that net profit jumped 61% in the second quarter, as restructuring efforts continued to bear fruit.

At the other end of the index, shares in Tele2 AB slumped more than 4%, making it the biggest loser in early trade. The Swedish telecom operator reported that second-quarter net profit dropped, as a result of investment costs and expenses associated with an efficiency program.

Elsewhere commodity markets remained in sharp focus.

Gold and silver prices continued to trade close to their lowest level in five years on Tuesday, amid rising expectations that the U.S. Federal Reserve will raise interest rates later this year.

Gold dipped below $1,100 an ounce in early hours in Asia on Tuesday. It was recently trading at $1,102.90 per troy ounce.

U.S. oil prices dipped below $50 a barrel Monday for the first time since April, on continued concerns that global crude-oil supplies are overwhelming demand.

Brent, the global benchmark was down 0.1% at $56.61 a barrel on ICE Futures Europe in early European trade. WTI was 0.4% lower at $49.97 per barrel.

In currency markets, the euro was steady against the U.S. dollar at $1.083.

European government bond prices edged higher.

The yield on 10-year German government bonds was at 0.69%, marginally lower on the day. Yields on 10-year Spanish bonds were at 1.90% and on 10-year Italian bonds at 1.89%, both also slightly lower. Yields fall as bond prices rise.

Write to Josie Cox at [e-mail]

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