STOXX 600 Approaches Record High
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European stocks, led by financials and consumer discretionary sectors, closed sharply higher on Tuesday. The Eurozone's STOXX 50 rose 0.7% to 6,022, while the STOXX 600 gained 0.5% to 621.4, nearing its record high. Banks and insurers saw significant gains, with UniCredit, BNP Paribas, and AXA up between 1.7% and 2.7%. Auto producers and luxury brands benefited from potential U.S. metal tariff cuts and strong retail sales expectations in China. Bayer surged 7.5% ahead of a $10.5 billion settlement announcement regarding cancer lawsuits related to its Roundup product.
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