European stocks reversed early losses and closed higher on Tuesday, helped by a rebound in U.S. equities as markets continued to assess how lower trade risks with the U.S. could affect Europe's corporate giants. The eurozone STOXX 50 gained 0.4% to close at 4,956 and the pan-European STOXX 600 gained 0.2% to close at 508. Carmakers were among the biggest gainers on the session, with Mercedes-Benz, BMW and Volkswagen all up more than 2%. Banks, meanwhile, were solidly ahead, with BNP Paribas, Intesa Sanpaolo and ING all up around 1.5%, although UniCredit slumped almost 3% after the Italian government imposed restrictions on the lender's bid to acquire Banco BPM. On the earnings front, L'Oreal jumped more than 6% after posting strong results. Outside the euro zone, Novo Nordisk plunged more than 7% after U.S. rival Eli Lilly reported strong results on its new weight-loss drug. (Newsmaker23)
Source: Trading Economics
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