(Reuters) – European stocks edged higher on Tuesday, boosted by a fresh run of gains for technology stocks, while investors awaited economic data that is expected to show a slight improvement in euro zone business activity.
The pan-European STOXX 600 index rose 0.1% after a strong finish on Wall Street, lifted by tech stocks that were battered last year in the wake of surging interest rates.
S&P Global’s flash reading, due at 0900 GMT, is expected to show the euro zone flash composite PMI edged up to 49.8 in January, a small improvement from 49.3 in December, as energy prices dropped and inflation moderated.
Among stocks, Rheinmetall added 1.2% after the German defence group’s chief executive forecast sales would grow to 11-12 billion euros ($12-$13 billion) in 2025, according to German magazine Stern.
Swatch Group edged up 0.8% after the Swiss watchmaker said it was positive about a recovery in the China market and also reported a 2.5% increase in 2022 sales.
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Shares of Norwegian salmon farmers SalMar and Mowi jumped 4.7% and 9.1%, respectively, to top the STOXX 600.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Savio D’Souza)
Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.
