- The pan-European Stoxx 600 ended the session up by about 0.2%, with most sectors and major bourses in positive territory.
- The market fluctuations come as Treasury yields retreat from their highs of last week, falling to 1.408%.
- On the data front, euro zone inflation held steady in February, rising 0.2% month-on-month in line with analyst expectations.
LONDON — European stocks closed higher on Tuesday, building on the previous session's rally as concern over rising U.S. bond yields stabilized.
The pan-European Stoxx 600 ended the session up by about 0.2%, with insurance stocks adding 1.6% while oil and gas slipped 0.3% on the back of weakening commodity prices. Most sectors and major bourses finished in positive territory.
European stocks are building on a strong start to the week, with the Stoxx 600 ending the previous session up by 1.8%. However on Wall Street, the major U.S. stock indexes traded lower Tuesday, pulling back after the S&P 500 rallied more than 2% Monday for its best day since June. Stocks in Asia-Pacific were mixed on Tuesday.
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The market fluctuations come as Treasury yields continue to retreat from last week's highs. The 10-year U.S. Treasury note yield fell to 1.408% by the market close in Europe.
Stateside, investors are likely to pore over comments made by both Securities and Exchange Commission Chair nominee Gary Gensler and Federal Reserve Governor Lael Brainard for indications on where the U.S. economy is headed, and any hints on inflation expectations.
Money Report
On the data front, euro zone inflation held steady in February, rising 0.2% month-on-month in line with analyst expectations, according to flash estimates from Eurostat Tuesday.
Earnings remain a driver of individual share price movement, with HelloFresh, Man Group, Travis Perkins, Taylor Wimpey and Hotel Chocolat among those reporting before the bell.
German manufacturer Kion Group gained 6.5% to lead the Stoxx 600 while Hellofresh slid 6.5% following their respective full-year earnings reports.
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