BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks rose on Tuesday to extend gains from the previous session as investors looked past concerns over a U.S. hedge fund default and rising yields to focus on recovery from the Covid-19 crisis.
Dovish comments by Bank of England's policy maker Gertjan Vlieghe the previous day also offered some support.
The pan European Stoxx 600 rose half a percent to 429.58 after closing 0.2 percent higher on Monday. The German DAX and France's CAC 40 index climbed around 0.6 percent, while the U.K.'s FTSE 100 was up 0.4 percent.
Banks Commerzbank, Deutsche Bank, BNP Paribas and Barclays climbed 2-3 percent on expectations they would benefit from rising bond yields.
Swiss lender Credit Suisse rose half a percent after falling nearly 14 percent in the previous session on news it is facing 'highly significant and material' losses.
Miners Anglo American, Antofagasta, BHP, Rio Tinto and Glencore were up 1-3 percent on hopes for a swifter economic recovery from the pandemic.
British postal service company Royal Mail jumped 2.6 percent after announcing a one-off dividend payment.
Imperial Brands declined 1.5 percent. The tobacco company stated that it remains on track to deliver full year results in line with the company's guidance with low-mid single digit organic adjusted operating profit growth at constant currency.
AstraZeneca fell over 1 percent after Canada suspended its Covid vaccine for adults aged 55 and under because of an adverse event referred to as Vaccine-Induced Prothrombotic Immune Thrombocytopenia (VIPIT).
Spanish mobile phone mast operator Cellnex Telecom lost 1.7 percent after launching a 7 billion euro ($8.23 billion) capital raise.
German IT service provider Cancom SE rallied 2.6 percent. After posting higher fourth-quarter revenues, the company said it expects a significant increase in gross profit and EBITDA and a very significant increase in Group EBITA for full-year 2021.
Uniper SE lost 2.7 percent. The energy company said that its chief executive officer Andreas Schierenbeck and chief financial officer Sascha Bibert will leave the company immediately.
In economic releases, Eurozone economic confidence more-than-expected in March, survey results from the European Commission showed.
The economic sentiment index climbed to 101.0 in March from 93.4 in the previous month. The score was above economists' forecast of 96.0. This was the highest reading since February 2020.
A measure of French consumer confidence climbed to 94 from 91 in February, survey data from INSEE showed earlier today as households' expectations regarding their financial situation outlook strengthened and the saving intentions hit a record high.
Economists had expected the index reading to remain unchanged. The latest score was the highest since December's 95, but remained below the long-term average of 100.
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