European Stocks Climb Ahead Of Yellen Comments

European stock markets headed for a fifth straight day of gains on Tuesday as investors waited for Janet Yellen to give her first testimony as U.S. Federal Reserve Chairwoman later in the day. Market participants will be watching closely for any signals on changes to monetary policy, although most analysts expect her to stick to the current strategy.

The Stoxx Europe 600 index climbed 0.4% to 326.74, on track for the highest closing level in almost three weeks.

L’Oreal SA gained 1.6% after news the cosmetics firm will buy back an 8% stake from Nestle. Lagardere SCA gained 2.2% after a well-received earnings report.

Barclays PLC dropped 1.7% after reporting full-year earnings. Among country-specific indexes, the U.K.’s FTSE 100 index added 0.4% to 6,615.54, France’s CAC 40 index rose 0.3% to 4,251.21 and Germany’s DAX 30 index climbed 0.6% to 9,348.31.

Source : Marketwatch