European Stocks Recover on Tuesday
European stocks closed firmly higher on Tuesday, erasing losses from the previous session with support from most major sectors as markets assessed a batch of key economic data.
The Eurozone's STOXX 50 added 0.7% to 5,480 and the pan-European STOXX 600 rose 0.4% to 556. Fresh PMI data indicated that the Eurozone's private sector activity expanded at the sharpest pace in 16 months amid fresh support from the services sector, raising hopes of traction in the bloc's economy amid the prolonged period of economic uncertainty due to trade barriers this year.
Consumer discretionary stocks booked sharp gains with LVMH, L'Oreal, and Adidas both gaining more than 3%, while Volkswagen and Stellantis also advanced more than 3% to trim the auto-manufacturer selloff from yesterday.
Meanwhile, Orsted surged more than 7% after a US court ruling cleared the way to resume work on the Revolution Wind project off the Rhode Island coast
Source : Tradingeconomics.com