European stocks closed a choppy session
European stocks closed a choppy session firmly higher on Tuesday as markets reconsidered the impact that a US government shutdown may have on the local labor market and a reaction by the Fed.
The Eurozone's STOXX 50 added 0.4% to 5,530 and the STOXX 600 rose 0.6% to 558. The US government was set to start its shutdown overnight, with President Trump threatening massive cuts in public-sector jobs amid existing pressure on the labor market, which drove yields across the globe to pull back during the third quarter.
Conversely, the ECB is set to hold rates for the rest of the year as fresh CPI data in Germany, France, and Spain pointed to higher inflation. Industrial giants lead the gains in the session with Wolters Kluwer, Safran, Siemens, and Schneider adding between 1.5% and 2%. Banks were also higher, with Santander and UniCredit advancing 1.3%. The STOXX 50 advanced 4.2% in the third quarter, while the STOXX 600 gaine
Source: Trading Economi