Economic news

European stocks inch up on upbeat sentiment

European stocks rose in morning deals on Tuesday as concerns over U.S.-Russia tensions eased up with attention turning to the first-quarter financial results and trade execution.

Photo: Reuters

The pan-regional STOXX 600 index gained 0.2% to 378.65.

The DAX 30 index in Frankfurt jumped 0.6% to 12,469.70, while Paris CAC 40 index advanced 0.3% to 5,330.79. The UK’s FTSE 100 index traded at 7,199.84.

Index of German economic confidence fell sharply to -8.2 in April. The UK unemployment rate slumped to 4.2%, its lowest level since the three months to May 1975.

Shares of Bayer AG leaped 1.9% on the news that Temasek will subscribe to 31 million new Bayer shares.

Shares in Sanofi SA climbed 0.2%. France-based company is in talks with Advent International Corp. to sell its European generic business Zentiva for an enterprise value of 1.92 billion euros ($2.37 billion).

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