European stocks starts Q2 up, German inflation data due

European stocks started the second quarter on a positive note, with the STOXX 600 index rising by 0.3 per cent by 07:12 GMT on Tuesday, Reuters reported.

Investors, returning from the extended Easter weekend, were keenly observing a series of economic data points, including German inflation data, that could shed the light on the European Central Bank’s (ECB) potential timing for interest rate cuts.

Tech stocks provided a significant boost to the benchmark index. BE Semiconductor Industries saw a notable jump of 4.6 per cent following an upgrade from “equal weight” to “overweight” by Barclays.

Germany’s DAX also went up by 0.3 per cent, ahead of the release of the consumer price index data at 12:00 GMT. Economists surveyed by Reuters anticipate a 2.2 per cent annual increase in March, a slight decrease from the 2.5 per cent rise in the previous month.

This data from Germany, the region’s largest economy, could serve as an indicator for broader eurozone inflation, which is due to be released on Wednesday.

UBS, the Swiss multinational investment bank, saw a 1.2 per cent gain after announcing a new share buyback programme of up to $2 billion, with plans to complete up to half of it by 2024.