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European stocks hovered just below their all-time high on Tuesday, April 13th, as strong export data from China boosted optimism about a faster global economic recovery, while investor interest shifted towards important US inflation data to be released later today.
The European Stoxx600 index was up 0.1%, after hitting an unprecedented level last week.
The German stock index, which is heavily dependent on exports, rose 0.2% after data showed Chinese exports grew at a strong pace in March and the pace of import growth increased to the highest level in four years.
Stock markets have faced pressure since March as a result of higher US Treasury bond yields, which reached a peak of 14 months, due to expectations that a large fiscal and monetary stimulus, along with a faster-than-expected economic recovery, will lead to a jump in the rate of inflation.
Today’s attention is focused on the US consumer price data due out at 12:30 GMT. The CPI is expected to rise 0.5% in March, following a 0.4% increase in the previous month.
