This is CNBC's live blog covering European markets.

European markets opened mixed on Tuesday, as investors assessed earnings from bellweather firms across the region.

The regional Stoxx 600 index was down 0.13% in early deals, even as Germany's DAX was trading 0.45% higher and technology stocks gained 1.47%. Both were boosted by Frankfurt-listed software giant SAP, which rose more than 5% to a record high after raising its revenue guidance on strong cloud business growth.

Shipping giant Maersk, seen as a barometer for global trade, meanwhile added 3.3% after upgrading its full-year earnings forecast, citing strong container demand.

Utilities and chemicals were the worst-performing sectors, down by 0.6% and 0.5%, respectively.

Asia-Pacific markets slipped overnight following a mixed session on Wall Street Monday.

U.S. stock futures were flat in overnight trading after the Dow Jones Industrial Average snapped a three-day winning streak yesterday.

Stateside, results are due from Lockheed Martin, General Motors and Verizon.

SAP shares pop 5% at open after cloud and software revenue guidance raise

Frankfurt-listed shares of SAP jumped 5% at the market open to an all-time high, after the German software firm raised its full-year outlook in third-quarter results published after the market close Monday.

The company reported total revenue up by 9% year-on-year to 8.47 billion euros ($9.17 billion), and operating profit up by 29% to 2.21 billion euros, higher than expected. Revenue in its cloud business rose 25%, versus 11% for both cloud and software.

It also nudged its full-year guidance for cloud and software revenue higher, to 29.5 billion euros to 29.8 billion euros, up from a previous forecast of 29 billion euros to 29.5 billion euros.

"We are very happy with the results we announced yesterday night," SAP CEO Christian Klein told CNBC's "Squawk Box Europe" on Tuesday.

"It's definitely cloud, but SAP is more than cloud. We are embedding AI, we are running the operating system of the world, so for us it's all about cloud, plus AI gives customers a faster business model transformation, resilient supply chains," Klein said.

"It's all about decarbonization, especially for many large companies here in Europe, and this is what we are doing, we are selling software which runs business processes, and that is in times like that, very important for our customers."

The company has been conducting a restructuring this year to focus on business AI. SAP is also listed on the New York Stock Exchange.

— Jenni Reid

UK borrowing higher than forecast ahead of budget

U.K. net borrowing rose to £16.6 billion ($21.59 billion) in September, the Office for National Statistics said Tuesday, up £2.1 billion from the year before.

It was also higher than the £15.1 billion forecast by the government's independent advisory group, the Office for Budget Responsibility, and the third highest September borrowing since monthly records began in January 1993.

It comes as the Labour government prepares to deliver its first budget on Oct. 30.

Analysts say policymakers are in a difficult spot, having pledged to reduce debt as a share of GDP within the next five years and balance the budget so revenues meet costs, while also promising not to increase several major taxes, including on income, sales and corporations. U.K. Finance Minister Rachel Reeves, who took her post in July, has meanwhile accused the previous administration of leaving a £22 billion financing shortfall for the coming year.

Reports suggest she may use the budget to change the way debt is calculated by the Treasury in order to create more room for capital expenditure.

The latest borrowing figures "highlight the limited scope the [Finance Minister] has to increase day-to-day spending without raising taxes," Alex Kerr, U.K. economist at Capital Economics, said in a note.

"That said, if she tweaks her fiscal rules, she will still have room to raise public investment," Kerr said, predicting Reeves would raise current spending — which excludes investment — by a net £25 billion a year funded by tax rises.

A change in debt rules would allow for borrowing for public investment by an additional £53 billion, Kerr added.

— Jenni Reid

Maersk beats Q3 profit forecast, raises full-year guidance amid strong shipping demand

Shipping giant Maersk raised its full-year 2024 guidance Monday citing strong third-quarter performance along with "strong container market demand and the continuation of the Red Sea situation."

The Danish company posted preliminary, unaudited earnings before interest, taxes, depreciation, and amortization (EBITDA) of $4.8 billion, above an analyst consensus of $3.7 billion.

Maersk hiked its full-year EBITDA forecast to $11 billion to $11.5 billion, up from a previous forecast of $9 billion to $11 billion, and said it now sees free cash flow of at least $3 billion, up from at least $2 billion previously.

The outlook for global container market volume growth for the year has risen to around 6% from 4%-6% previously, it added in a trading update published after the market close Monday.

The Red Sea crisis has this year seen shipping companies divert trade around the southern coast of Africa, avoiding the Red Sea and Gulf of Aden following attacks on its vessels by Houthi rebels. That has added to journey times, taking capacity out of the global container market.

Citi analyst Sathish Sivakumar said in a Monday note that Maersk's full-year consensus upgrade was "mostly driven" by the improved third-quarter results, and that he also expected an increase in fourth-quarter consensus along with more detail in the full company results due on Oct. 31.

Sivakumar, who has a sell rating on the stock, said there were upside risks to Maersk falling to his target price, including improved consumer confidence, a favorable freight rate environment and ongoing tight supply chain conditions.

— Jenni Reid

Investors should not overreact to Harris-Trump 'jawboning' ahead of election: Ninety One

European markets: Here are the opening calls

European markets are expected to open in mixed territory Tuesday.

The U.K.'s FTSE 100 index is expected to open 15 points lower at 8,306, Germany's DAX up 68 points at 19,522, France's CAC up 2 points at 7,533 and Italy's FTSE MIB up 8 points at 34,798, according to data from IG.

Earnings are set to come from Randstad, Tele2, DnB and InterContinental Hotels Group, and the IMF publishes its latest World Economic Outlook report.

— Holly Ellyatt

CNBC Pro: As gold hits another record high, the pros reveal their outlook for the precious metal

Macroeconomic uncertainties, mounting geopolitical tensions and a desire to hedge against inflation have given gold — the classic "safe haven" asset — a blistering rally.

Spot gold prices have soared above $2,700 an ounce, rallying for the fifth day on Monday to hit another record high of over $2,733 an ounce. Year-to-date, spot gold is up over 30%.

And Michael Widmer, head of metals research at Bank of America, says it has further to go.

'If gold doesn't rally now, then I'm not sure when it ever will. Actually, I think the fundamental backdrop looks actually quite good," he told CNBC's "Squawk Box Europe" on Monday.

Others like John Reade, senior markets strategist at the World Gold Council, urge some caution.

CNBC Pro subscribers can discover more here.

— Amala Balakrishner

Uncertainty surrounding November election is 'no reason to exit the market,' says UBS

Despite a tight U.S. presidential election remaining too close to call, UBS remains constructive on equities and does not think any uptick in volatility could harm a strong market.

"As neither party holds a clear advantage in any of the key swing states that could decide the outcome, the race remains too close to call, and we expect volatility to pick up in the coming weeks amid elevated uncertainty," UBS Global Wealth Management chief investment officer Solita Marcelli wrote Monday. "But we also think the potential volatility is unlikely to derail positive equity fundamentals, and remind investors not to make dramatic portfolio changes based on expected election outcomes."

— Brian Evans

CNBC Pro: Scotiabank says its 3 biotech 'top pick' stocks have more than 100% upside potential

Scotiabank has highlighted three biotechnology companies as their "top picks," each with the potential to more than double in stock price over the next 12 months.

The bank believes interest rate cuts are a notable tailwind that will likely reignite wider investment interest in the biotech sector.

CNBC Pro subscribers can read more here.

— Ganesh Rao