European stocks closed mostly flat on Tuesday, recovering from losses of more than 1% earlier in the session after weaker-than-expected euro zone inflation data reinforced expectations for a 25 basis point interest rate cut by the ECB later this week.
Meanwhile, global growth concerns weighed on sentiment after the OECD cut its outlook, projecting world GDP to slow from 3.3% in 2024 to 2.9% in 2025 and 2026, citing rising trade tensions. Adding to market jitters, political instability in the Netherlands deepened as the government collapsed over disagreements on immigration policy. In corporate news, healthcare real estate companies Aedifica and Cofinimmo announced a merger, forming Europe's largest healthcare property company.
Meanwhile, British American Tobacco said it expects a return to revenue and profit growth in its U.S. operations this year and raised its annual sales growth target to 1–2%. (alg)
Source: Trading Economics
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