European Stocks Advance on Tuesday
European equities moved higher on Tuesday as easing crude prices reduced some of the pressure on inflation and markets became less concerned about an imminent ECB rate increase. The Stoxx 50 gained 0.9%, while the Stoxx 600 advanced 0.3%, with technology stocks providing much of the momentum. ASML was a standout performer, jumping 5%. Energy companies instead weakened as Brent crude slipped toward $104 a barrel following the restart of Saudi Arabia’s key oil-export pipeline. In Switzerland, Julius Baer surged as much as 9% after Finma closed its enforcement proceedings, clearing the way for the bank to seek approval to restart its share-buyback programme. Lindt & Sprüngli dropped 7.5% after lowering its sales-growth outlook for the second time this year.
European equities moved higher on Tuesday as easing crude prices reduced some of the pressure on inflation and markets became less concerned about an imminent ECB rate increase. 3%, with technology stocks providing much of the momentum. ASML was a standout performer, jumping 5%. Energy companies instead weakened as Brent crude slipped toward $104 a barrel following the restart of Saudi Arabia’s key oil-export pipeline.
In Switzerland, Julius Baer surged as much as 9% after Finma closed its enforcement proceedings, clearing the way for the bank to seek approval to restart its share-buyback programme. 5% after lowering its sales-growth outlook for the second time this year.