- The positive start forecast for the region’s markets comes after European stocks struggled to gain positive momentum on Monday, and to recover from last week’s volatility.
- The war in Ukraine remains a key focus for market sentiment in Europe, with fighting raging in the east and southeast of the country.
LONDON — European stocks advanced on Tuesday as global markets try to build on some positive momentum seen at the start of the new trading week.
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The pan-European Stoxx 600 added 0.9% in early trade, with travel and leisure stocks climbing 2.2% to lead gains as almost all sectors and major bourses entered positive territory.
The positive start forecast for the region’s markets comes after European stocks struggled to gain positive momentum on Monday, and to recover from last week’s volatility.
Market sentiment appears to be improving in Asia-Pacific, where shares were higher in Tuesday trade as Hong Kong stocks led gains regionally. Still, U.S. stock index futures were flat during overnight trading on Monday, following a volatile session that saw the S&P 500 and Nasdaq Composite continue their march lower.
The war in Ukraine remains a key focus for market sentiment in Europe, with fighting raging in the east and southeast of the country. On Monday, news emerged that more than 260 Ukrainian fighters, including some who are badly wounded, were evacuated from the Azovstal steel plant — a last stronghold for Ukrainian forces in the ruined city of Mariupol — and taken to areas under Russia’s control, the Ukrainian military said.
With Finland and Sweden both announcing their bids to join the Western military alliance NATO, all eyes are on Russia and how it might react. Moscow has already expressed outrage at the idea of its old foe NATO expanding, and Russian President Vladimir Putin said Monday that the expansion of NATO “is a problem.” While Russia has vowed retaliatory steps, it’s uncertain how it will act.
On the data front, U.K unemployment fell to its lowest since 1974 in the first quarter, official figures revealed Tuesday, but soaring inflation pushed wages downwards.
The second estimate of the euro area growth rate for the first quarter is also due Tuesday morning.
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In terms of individual share price movement, Clariant climbed more than 7% to lead the Stoxx 600 after the Swiss chemicals company announced that its delayed full-year earnings report will be published on May 19, and that it will end a governance agreement with largest shareholder Saudi Basic Industries Corporation (SABIC).
At the bottom of the European blue chip index, Swedish investment company Storskogen Group sank more than 15% after its first-quarter results.
Source : CNBC