European Stocks Close Broadly Higher

(RTTNews) - European stocks closed higher on Tuesday, recovering from recent losses, as investors digested some corporate news and looked ahead to the next batch of economic data from the U.S. and Europe.

The dollar edged higher and Treasury yields held steady as investors awaited more U.S. economic data, including the retail sales figures for May as well as comments from several Federal Reserve officials to gauge the Fed's monetary policy path.

The pan European Stoxx 600 climbed 0.69%. The U.K.'s FTSE 100 gained 0.6%, Germany's DAX advanced 0.35% and France's CAC 40 ended up by 0.76%, while Switzerland's SMI settled higher by 0.3%.

Among other markets in Europe, Austria, Belgium, Denmark, Finland, Greece, Netherlands, Norway, Portugal, Spain and Sweden closed higher.

Iceland and Poland ended weak.

In the UK market, Hargreaves Lansdown rallied about 5.3%. The stocks climbed after the firm received a non-binding offer from a CVC Capital-led consortium at GBP 1.14 per share, compared to the closing price of GBP 1.13.

RS Group, SSE, Bunzl, St. James's Place, DCC, Informa, National Grid, Schrodders and Croda International gained 2 to 4%.

Whitbread gained nearly 2%. The British hotel group reiterated its annual forecast despite posting flat first quarter sales.

Spirax Group, Whitbread, BT Group, Ocado Group, Hikma Pharmaceuticals, Marks & Spencer, Intertek Group, Intercontinental Hotels Group and Rentokil Initial ended higher by 1.5 to 2%.

JD Sports Fashion Group and Ashtead Group lost 2.2% and 2%, respectively. Persimmon, Barratt Developments, Taylor Wimpey, Reckitt Benckiser and Diageo ended lower by 0.6 to 1.25%.

In the German market, Deutsche Boerse, Qiagen, Siemens Energy, Commerzbank, Symrise, Hannover Rueck, Sartorius, RWE, Rheinmetall, Munich RE and Deutsche Telekom gained 1 to 2%,

Beiersdorf dropped about 2.8%. Fresenius ended 2.6% down, and Continental lost nearly 2%. Puma, Fresenius Medical Care and Merck lost 1 to 2%.

In the French market, Teleperformance climbed about 3.5%. Schnieder Electric gained more than 2% after Jefferies upgraded the stock's rating to "buy" from "hold".

Unibail Rodamco, Vivendi, Veolia, Vinci, Kering, Saint Gobain, AXA, Edenred, Accor, Airbus Group, Renault, Safran, TotalEnergies, Dassault Systemes, Eurofins Scientific, Legrand, Michelin, ArcelorMittal and Air Liquide gained 1 to 3%.

Carrefour ended lower by more than 4% after reports that the finance ministry wanted to levy a "record fine" against the supermarket group for management of its franchise network. L'Oreal and LVMH also ended notably lower.

On the economic front, eurozone inflation accelerated in May, as initially estimated, largely driven by services cost, official data revealed.

The harmonized index of consumer prices rose 2.6% on a yearly basis, following the 2.4% rise in April, Eurostat reported. The rate came in line with the estimate published on May 31 and it has moved away from the ECB's 2% target.

German economic confidence improved only marginally in June, survey data from the ZEW economic research institute showed.

The ZEW Indicator of Economic Sentiment rose slightly to 47.5 in June from 47.1 in the previous month. The reading remained below forecast of 50.0. Assessment of current situation deteriorated in June with the index falling to -73.8 from -72.3 last month.