European stocks began the second quarter on a positive note, with investors focusing on various economic indicators including inflation data from Germany. This data could provide clarity on the timing of interest rate cuts from the European Central Bank.
The continent-wide STOXX 600 index opened up 0.3% on Tuesday at 0712 GMT, as investors returned to the markets following an extended weekend and the Easter holidays. The benchmark index was boosted by technology stocks, with BE Semiconductor Industries jumping 4.6% after brokerage Barclays upgraded the stock to “overweight” from “equal weight”. Germany’s DAX climbed 0.3% ahead of consumer price index data due at 1200 GMT.
Economists polled by Reuters expect a 2.2% annual rise in March, compared with a 2.5% increase in the previous month. The data from Germany, the largest economy in the region, could be seen as a bellwether for broader euro zone inflation. Data for the euro zone as a whole is expected to be released on Wednesday.