European Stocks Post Broad Gains

European stocks closed higher on Tuesday, supported by gains in retail and basic resources stocks as investors braced for a busy week of economic data. The pan-European Stoxx 600 index closed up 0.6 percent, touching its highest level in more than three weeks in broad-based gains across the market, after posting its biggest weekly gain in three months. Shares in most other European bourses, including Germany, France, Italy and Spain, rose between 0.5 percent and 1.4 percent. Mining stocks also rose 2 percent, tracking higher metal prices, while Zalando and JD Sports were the biggest gainers among retail stocks. In contrast, defense stocks fell after a report that the German finance ministry would not approve additional requests for military aid to Ukraine due to budget constraints, with shares in Hensoldt, Renk, BAE Systems, Saab, Thales and Leonardo falling between 0.8% and 5.4%. Source: Qatar News Agency