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European Stocks Rise After EU Reaches a Deal on Recovery Fund


Photographer: John Thys/AFP via Getty Images

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European stocks ended higher on Tuesday after European Union leaders agreed on a 750 billion-euro ($860 billion) stimulus package designed to aid the region’s economic recovery.

The Stoxx Europe 600 Index rose 0.3%, adding to Monday’s gains. The benchmark pierced a key resistance level, representing its 200-day moving average, but failed to close above it. Earnings were in focus, with UBS Group AG climbing 2.6% after reporting net new money and profit that beat estimates and expressing confidence about dividends, while Novartis AG dropped 1.9% after trimming its 2020 sales forecast.