A stock trader looks at his monitors in the trading room of the Frankfurt Stock Exchange. Worries about a new coronavirus mutation in southern Africa have dealt a major blow to the German stock market.
- European stocks pushed higher in Tuesday trade, following a mixed start to the week.
- Investors are looking ahead to the Bank of England's policy rate decision on Thursday.
LONDON — European stocks closed higher Tuesday after a mixed start to the trading week.
The Stoxx 600 index provisionally closed 0.66% higher, with most sectors and all major bourses trading in the green. Construction stocks led gains, up 1.3%, while household goods dipped 0.5%.
Financial services firm Hargreaves Lansdown was among the top gainers, finishing 5% higher after its board said it would be willing to "recommend unanimously" that shareholders approve a fresh non-binding proposal from a private equity consortium led by CVC. The cash offer for £11.4 per Hargreaves Lansdown share is higher than previously-rejected deals and values the company at roughly £5 billion.
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Inflation in the single currency euro area rose at an annual rate of 2.6% in May, up from 2.4% in April, the EU's statistical office Eurostat confirmed in a final reading Tuesday. Annual inflation within the wider EU was 2.7%, up from 2.6% the previous month.
Investors will be closely watching the latest print for an indication of where the European Central Bank may go next, having last month cut interest rates for the first time since 2019.
Meantime, investors are looking ahead to the Bank of England's policy rate decision on Thursday. The Bank is widely expected to hold rates steady at 5.25%, with the majority of economists polled by Reuters forecasting an August cut.
Money Report
Asia-Pacific markets rebounded Tuesday, as the Reserve Bank of Australia held interest rates.
Meanwhile, the S&P 500 rose slightly after a winning day on Wall Street, as investors assessed weak retail sales data.
