Europe closes higher; Stoxx 600 hits 20-month high on Macron rally: Christian Dior up 11% – CNBC

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European stocks closed higher Tuesday after hitting multi-year highs in the previous session on news centrist presidential candidate Emmanuel Macron had won the first round of the French election.

Politics, currency and data

The victory of the centrist Emmanuel Macron in the first round of the French election sent French stocks to a nine-year high on Monday, which also drove other European stocks higher. The euro edged higher on Tuesday, trading at around $1.0935 at 4.50 p.m London time.

In the U.S., President Trump has indicated that he might wait for a budget blueprint before seeking funding for building a wall on the border with Mexico. Meanwhile, the largest world economy has imposed tariffs of about 20 percent on Canadian softwood lumber.

In terms of data, French business showed no signs of concern over the ongoing presidential race with sentiment stable at 104 in April, statistical office Insee said.

Meanwhile, in the U.K., the gap in final incomes between the richest and poorest households dropped last month.

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Europe closes higher; Stoxx 600 hits 20-month high on Macron rally: Christian Dior up 11% – CNBC

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