European Stocks Finish Higher Despite Recession

European stocks finished higher on Tuesday, as markets attempt to recover from the recent losses that resulted from concerns about the surge in inflation in the United States.

The STOXX Europe 600 index closed higher by 0.28% at 443.55 points, with the travel and leisure sector recovering some of its recent losses and rising by 1.6% to lead the rising stocks.

Earlier, data showed that the gross domestic product (GDP) declined by 0.6% during the first quarter of the year, signaling that the European bloc entered into recession due to the complications of the pandemic.

Today, the French CAC40 declined by 0.22% and the German DAX marginally slipped by 0.07%.

Meanwhile, the UK’s FTSE100 leveled up by 0.02%.