Europe Higher, Asia Lower

European stock markets were higher on encouraging economic data from the U.S.

European stock markets were higher on Tuesday. In London, the Financial Times Stock Exchange-100 gained 3.80 points, or 0.08%, to close at 4937.30. The FTSE pared losses to end the day flat on the back of encouraging U.S. economic data. The February producer price index showed a 0.4% rise, in line with expectations, while the core PPI rose 0.1%. Investors awaited the Fed's expected interest rate increase and comments signalling the future pace for rate hikes. In London, 02 remained the key faller on weak fiscal year 2005/2006 growth guidance. Rival Vodafone benefited as JP Morgan raised the target price. EasyJet soared after saying first-half of the year trading conditions have remained stable, with revenue per passenger expected to increase by 1% to 2% year-over-year.

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