European stock markets closed higher in Tuesday trading as the Stoxx Europe 600 rose 1.11%, Germany's DAX advanced 1.60%, the FTSE 100 gained 0.01%, France's CAC 40 increased 1.04%, and the Swiss Market Index was up 1.13%.

In Germany, the ifo Business Climate Index for June rose to 88.4 points in June from 87.5 points in May, indicating that companies felt slightly more positive and that the German economy is slowly gaining confidence. The reading also topped the analyst forecast of 88.1, according to Bloomberg.

And in corporate news, the Spanish government cleared Banco Bilbao Vizcaya Argentaria's bid to acquire Sabadell, but the lenders will have to keep assets separated and operate as different entities for the next three years, Bloomberg reported Tuesday, citing comments made by Economy Minister Carlos Cuerpo during a news conference.

BBVA did not immediately reply to a request for comment from MT Newswires.

Shares of Banco Bilbao Vizcaya Argentaria's closed 2.5% higher in Madrid.

Britain's Competition and Markets Authority said Tuesday it has proposed to designate Alphabet's unit Google as having "strategic market status" in the provision of general search and search advertising services.

The regulator is seeking feedback on the proposed decision by July 22 and has set out a roadmap on how it might tackle potential conduct requirements and pro-competition interventions if Google is designated as having strategic market status, it said. Google did not immediately respond to MT Newswires' request for comment.

Source : MT Newswires