Major European stock markets closed higher on Tuesday as fresh data showed easing inflation and improving factory activity in the eurozone. Annual inflation in the euro area landed at 2.2% in March, down from 2.3% the previous month, while the unemployment rate clocked in at 6.1% in February. Meanwhile, manufacturing activity in the eurozone and Germany expanded in March.
In the UK, however, factory activity slumped to a 17-month low, though annual house price growth accelerated to 3.9% in March. Investors seemed to welcome the mixed economic signals.
At the close, the DAX jumped 1.63% with Commerzbank AG surging 7.39%. The EURO STOXX 50 gained 1.30% with Nokia Corporation 3.30% up. The CAC 40 gained 1.10% as Airbus SE gained 3.24%. The FTSE 100 advanced 0.56% with Rolls-Royce Holdings PLC jumping 4.06%. The euro traded 0.10% lower compared to the US currency, selling for $1.08066 at 5:29 pm CET. Simultaneously, the pound was flat against the greenback to go for $1.29248.
