European stocks closed higher on Tuesday as global markets attempted to break out from the gloomy sentiment seen at the start of the trading week.
The pan-European Stoxx 600 ended the session up by about 0.2%, with travel and leisure shares adding 1.6% to lead gains while telecoms dropped 1.2% on the back of post-earnings falls for Iliad and Vodafone.
The day’s trading indicated a more positive tone than on Monday, when stocks closed lower as global investors weighed concerns over a rise in inflation and an increase in coronavirus cases, largely attributed to the spread of a variant that emerged in India.
Euro zone gross domestic product (GDP) declined by 0.6% in the first quarter, according to Eurostat data published Tuesday, in line with initial estimates and confirming that the 19-member bloc entered a technical recession to start the year.
Reference: CNBC
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