European Stocks Close On Firm Note On Positive Regional Economic Data

European stocks closed on a firm note on Tuesday, riding on encouraging regional economic data and hopes the European Central Bank will not hike interest rates anytime soon. Renewed optimism surrounding Artificial Intelligence helped keep the mood positive.

Investors also focused on the developments on the geopolitical front, and followed the speeches at the ECB Forum in Sintra.

ECB Chief Economist Philip Lane said in Sintra, Portugal, today that the second-round effect from higher energy prices is probably going to take some time to show up and that policymakers won’t lock themselves into a path for interest rates in the meantime.