BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks closed higher on Tuesday as reports about Israel-Hezbollah ceasefire and reported discussions between Iran and the U.S. helped ease concerns about Middle East tensions.
The pan European Stoxx 600 climbed 0.66%. The UK's FTSE 100 gained 0.33%, Germany's DAX closed higher by 0.48% and France's CAC 40 ended with a gain of 0.77%. Switzerland's SMI ended flat.
Among other markets in Europe, Austria, Czech Republic, Finland, Ireland, Netherlands, Poland, Russia, Spain, Sweden and Türkiye closed with sharp to moderate gains.
Greece edged up marginally. Belgium, Denmark and Iceland ended weak, while Norway and Portugal closed flat.
In the UK market, mining stocks turned in a fine performance. Antofagasta climbed 6.5%, Glencore moved up 4.57% and Anglo American Plc gained 4.1%, while Rio Tinto jumped 3.2%.
Barclays and Standard Chartered moved up 3.4% and 2.7%, respectively. Intercontinental Hotels Group, Marks & Spencer, Metlen Energy & Metals, Polar Capital Technology Trust, Kingfisher, IMI and Next gained 2%-3.4%.
Airtel Africa, The Sage Group, Endeavour Mining, Experian, LSEG, Relx, United Utilities, British American Tobacco, SSE, Haleon, AstraZeneca and Tesco ended notably lower.
In the German market, Infineon soared nearly 10%. Deutsche Post, Continental, Zalando, Fresenius, Daimler Truck Holding, Siemens, Scout24, Deutsche Bank and Adidas gained 2%-3%.
SAP, Bayer, Deutsche Boerse, Fresenius Medical Care, Rheinmetall, Heidelberg Materials, E.ON, Gea Group and BMW lost 1%-3%.
In the French market, STMicroelectronics zoomed nearly 15% after the chipmaker raised the revenue target for its data center business. The company cited strong demand for AI infrastructure for increasing its revenue outlook.
For fiscal 2026, data center revenues are now expected at about $1 billion, compared to previous view of nicely above $500 million. Assuming the current dynamic continues and with the current engagements, revenues could double in 2027, compared to previous expectation of well above $1 billion, the company said.
Danone gained about 4.5%. Schneider Electric climbed 4% and Kering moved up 2.7%. ArcelorMittal, BNP Paribas, Saint-Gobain, Michelin, Accor, Legrand and LVMH also posted strong gains.
Capgemini dropped by about 7.6%. Dassault Systemes drifted down 4%, while Teleperformance, Carrefour, Bureau Veritas, Renault, Thales, Orange, Sanofi and EssilorLuxottica shed 1%-3%.
In economic news, Data from Eurostat showed Eurozone consumer price inflation rose to 3.2% in May, up from 3.0% in April and matching market expectations, according to preliminary data. The reading, which is the highest since September 2023, is significantly above the European Central Bank's 2.0% target.
Among major Eurozone economies, inflation picked up in Spain, edging up to 3.6%, the Netherlands (3.4% from 2.5% a month earlier), Italy (3.3% from 2.8%), and France (2.8% from 2.5%). In Germany, inflation slowed to 2.7% from 2.9%.
Data from the Bank of England showed net mortgage approvals for house purchases in the UK increased to 65,900 in April from 64,000 in March, above market expectations of 61,700 and marking the highest level since January 2025.
Net borrowing of mortgage debt by UK individuals decreased to £4.4 billion in April, the lowest in six months, from £6.8 billion in March and below the previous 6-month average of £5.1 billion.
Net borrowing of consumer credit by individuals in the UK eased slightly to £1.86 billion in April from the upwardly revised £1.90 billion in the previous month, though above forecasts of £1.7 billion.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
