European Stocks Bounce 0.7% Amid Inflation Data Expectations

AI Summary

On Tuesday, European equities, represented by the Stoxx 600, rose 0.7% after falling to a one-week low. The U.K.'s FTSE 100 gained 0.4%, while France's CAC 40 and Germany's DAX increased by 0.9% and 1%, respectively. In contrast, Abivax (ABVX) shares dropped 28% following reports of cancer development in its ulcerative colitis trial. Moreover, inflation in the euro zone increased to 3% in April, raising concerns over energy prices as the market anticipates a 94% likelihood of a 25 basis points interest rate hike by the European Central Bank later this month.