European Stocks Extend Rebound
European stocks closed slightly higher on Tuesday, extending the rebound from the prior session as markets assessed a batch of earnings reports and key economic data.
The Eurozone's STOXX 50 added 0.2% to 5,253 and the pan-European STOXX 600 inched 0.1% higher to 541. AB InBev jumped over 2%, tracking Diageo stocks in London after the alcoholic beverage producers reported optimistic earnings reports. In the meantime, Ferrari added 2.5% to enjoy some respite from its recent negative momentum ,while Siemens, Airbus, and BASF closed over 1% up and extend yesterday's rebound. In turn, Infineon surged nearly 5% on strong quarterly results.
The German chip company outperformed the broader sector, with ASML losing nearly 1% after US President Trump said that his administration will unveil new tariffs on semiconductors within a week.
Outside the Eurozone, Swiss stocks outperformed to rebound from yesterday's losses as its delegation aimed to negotiate lower tariffs with the US by this week.
Source : Trading Economics
