The European stock markets closed higher in Tuesday trading as The Stoxx Europe 600 rose 0.33%, Germany's DAX gained 0.50%, the FTSE 100 advanced 0.54%, France's CAC 40 increased 0.56%, and the Swiss Market Index was up 0.13%.
In Germany, calendar and seasonally-adjusted exports declined 1.4% in May, while imports fell 3.8% compared with the previous month, according to the Federal Statistical Office. Compared with a year earlier, exports increased 0.4% and imports rose 4.2%. Meanwhile, the trade balance for May was 18.4 billion euros ($21.6 billion).
And in corporate news, UBS made about 100 goodwill payments to clients in Switzerland who lost money on foreign exchange trades after US tariff announcements in April triggered a drop in the dollar, the Financial Times reported Tuesday, citing sources familiar with the matter.
The Swiss bank reportedly launched an internal review after complaints that clients were not properly warned about the risks tied to derivatives, which forced them to exchange dollars and Swiss francs at unfavorable rates once the market moved.
Shares of UBS gained 1.6% in Zurich.
Danish pharmaceutical company Novo Nordisk said Tuesday it has filed for European Medicines Agency approval of a new, higher dose of its obesity treatment Wegovy, or semaglutide. The higher dose had a safety profile consistent with the currently approved 2.4 mg dose, the company said.
Source : MT Newswires
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