Stoxx 50 gains 0.9% as lower oil prices ease ECB rate fears

  • European equities rose as easing oil prices reduced inflation and ECB rate concerns.
  • The Stoxx 50 gained 0.9%, while ASML jumped 5% and Lindt & Sprüngli fell 7.5%.
  • Julius Baer surged as much as 9% after Finma closed its enforcement proceedings.

European equities advanced on Tuesday as falling crude prices eased some inflation pressure and reduced market concern about an imminent ECB rate increase. The Stoxx 50 rose 0.9% and the Stoxx 600 gained 0.3%, led largely by technology stocks, with ASML jumping 5%. Energy shares weakened as Brent crude moved toward $104 a barrel after Saudi Arabia's key oil-export pipeline restarted. Julius Baer surged as much as 9% after Finma closed its enforcement proceedings, allowing the bank to seek approval to resume its share-buyback programme. Lindt & Sprüngli fell 7.5% after cutting its sales-growth outlook for the second time this year.

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