European Markets Close Higher
European markets closed higher Tuesday, with investors keeping an eye on political upheaval in France.
The pan-European STOXX 600 index provisionally ended the day up 0.44%, with sectors mostly trading in positive territory. Retail stocks led gains, up 1.56%.
France’s financial markets are being closely watched Tuesday after Prime Minister Michel Barnier turned to special constitutional powers to pass a contested budget bill without a parliamentary vote
Opposition parties on both the left and right say they will back a no-confidence vote to bring Barnier’s minority government down. The vote could take place Wednesday. France’s CAC 40 index ended the day up 0.3%, having pared back some of its earlier gains.
The Swiss Market Index was little changed after inflation data showed consumer prices rose 0.7% year-on-year in November, just shy of the 0.8% print expected by analysts polled by Reuters.
Overnight, Asia-Pacific markets traded higher, tracking gains on Wall Street after the S&P 500 and the Nasdaq Composite rose to new records overnight. U.S. stocks slipped on Tuesday.(cay)
Source: CNBC
