European stocks rise as telecom and energy shares advance
The STOXX 600 rose 0.4 percent Tuesday as energy gains offset weak growth data. Investors weighed Middle East risks against potential interest rate hikes.
European equity markets concluded a volatile trading session on Tuesday with modest gains as investors balanced potential de-escalation in the Middle East against the threat of long-term economic disruption. The pan-European STOXX 600 index rose 0.4% to finish at 579.28 points, recovering from an earlier intraday drop of 0.7%.
Sector performance was mixed, with telecommunications and energy stocks spearheading the rally, gaining 2.5% and 2.4% respectively. Conversely, defense stocks retreated by 1.1%, and the financial sector fell 0.7%. Travel and leisure stocks, which have faced significant pressure during recent market turbulence, managed a slight increase of 0.1%.
