European stocks rose due to the recovery of China and attention on the results of US banks

European stocks rose on Tuesday as investors awaited more US bank earnings reports to gauge the health of the sector, and a stronger-than-expected economic recovery in China boosted sentiment.

The pan-European STOXX 600 rose 0.2 percent after starting the week retreating from its highest level in a year, ending a five-day gain.

Banking stocks rose 0.8 percent, recovering from sector losses on Monday.

China’s economy grew 4.5 percent year on year in the first quarter, exceeding the expectations of most economists.

Markets await the results of Goldman Sachs and Bank of America later on Tuesday, while the results of Morgan Stanley are due on Wednesday.

UBS Bank rose 1.1 percent as the Swiss bank made adjustments to its $6 billion share buyback program following its takeover of Credit Suisse.

EasyJet also rose 3 percent after the company announced expectations that its profit for the year as a whole would beat market expectations, supported by summer holiday bookings and strong demand over the Easter weekend despite strikes in France.

Investors are also awaiting a survey from the German Economic Research Institute (ZEW), which is due for release at 0900 GMT. The survey is expected to show that economic conditions in Germany, Europe’s largest economy, improved in April from the previous month.