European Shares Edge Higher Amid Middle East Peace Hopes
(RTTNews) - European stocks were broadly higher on Tuesday, the dollar fell from a two-month high and Brent crude futures fell below $93 a barrel after Israel and Iran agreed to halt attacks against each other, boosting hopes that peace negotiations could move forward. Investors
(RTTNews) - European stocks were broadly higher on Tuesday, the dollar fell from a two-month high and Brent crude futures fell below $93 a barrel after Israel and Iran agreed to halt attacks against each other, boosting hopes that peace negotiations could move forward.
Investors also cheered data that showed China's exports and imports expanded rapidly in May.
Closer home, German industrial output increased 0.4 percent on a monthly basis, in contrast to the revised 0.1 percent fall in March, Destatis reported.
The monthly growth rate came in line with expectations and marked the first monthly increase in five months.
Separate set of data revealed that German exports grew at a faster pace of 0.9 percent month-on-month in April, following March's 0.3 percent increase. Economists had forecast exports to fall 0.3 percent.
Meanwhile, growth in imports eased notably to 1.2 percent from 4.5 percent.
The pan-European STOXX 600 edged up by 0.4 percent to 624.43 after falling 0.2 percent on Monday.
The German DAX gained 0.4 percent and France's CAC 40 surged 0.8 percent while the U.K.'s FTSE 100 was down 0.3 percent, dragged down by energy stocks such as BP Plc and Shell.
