Noor Trends News, Technical Analysis, Educational Tools and Recommendations
European stocks rose on Tuesday as investors returned from a long weekend to face a week full of important economic data that is expected to provide more clues about the path of interest rates globally.
The pan-European Stoxx 600 rose 0.5 percent, with mining and auto stocks leading the gains, jumping 2.17 percent and 1.9 percent, respectively. The food and beverage products sector index fell 0.6 percent.
Among the hotly anticipated set of data are German and US inflation figures for March.
Markets also tracked the mixed moves on Wall Street overnight as investors digested Friday’s jobs report which showed solid job growth and a limited, but welcome, decline in wage inflation.
The International Monetary Fund will also release its latest outlook on the world economy at 1300 GMT amid a gathering of policy makers at the IMF and World Bank spring meetings.
A survey on Tuesday showed that investor sentiment in the euro zone improved in April after a surprise drop in March.
Investors are also awaiting the eurozone retail sales report for February, which is scheduled for release later on Tuesday.
Among individual stocks, UBS rose 1.9 percent after JPMorgan raised its price target as the Swiss parliament held an extraordinary session to discuss Swiss bank UBS’ takeover of rival Credit Suisse.
Glencore shares rose 2.8 percent in light of a scheduled meeting between the company’s chairman and some Tech Resources shareholders in Toronto, Canada, on Thursday, to drum up support for a proposed takeover of the copper and zinc producer.
Vodafone also rose 0.7 percent after the major telecom company resolved an outage that lasted for several hours and affected thousands of home broadband users in the United Kingdom.
