BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were modestly higher on Tuesday as U.S. Treasury yields eased from recent highs following reports that the Treasury could use its near $1 trillion General Account to help fund its recently announced bond buyback program.
Investors also took comfort in a softer-than-feared U.S. sanctions package against Iran that warned all countries to stop doing business with Iran or face secondary sanctions.
The Treasury Department stopped short of imposing any penalties, helping ease fears over potential disruption to near-term crude flows.
In economic releases, Germany's economy expanded more than estimated in the second quarter as exports remained strong despite geopolitical tensions, Destatis reported today.
GDP posted a quarterly growth of 0.3 percent, which was revised up from 0.2 percent estimated initially. This followed an expansion of 0.4 percent in the first quarter.
On a yearly basis, GDP growth accelerated to 1.0 percent in the second quarter from 0.7 percent in the first quarter.
The pan-European STOXX 600 was up 0.3 percent at 656.10 after ending marginally higher on Monday.
The German DAX gained half a percent, France's CAC 40 edged up 0.3 percent and the U.K.'s FTSE 100 was marginally higher.
Tech stocks traded higher, with ASML Holding rising 1 percent and Infineon Technologies surging 2 percent ahead of earnings from Nivida and Marvel Technology due this week.
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