European equity markets moved higher on Tuesday following reports that the Trump administration may be prepared to conclude U.S. military operations against Iran even if the Strait of Hormuz remains largely shut.
The British pound traded little changed after new data confirmed that the U.K. economy recorded only minimal growth in the fourth quarter.
According to final figures from the Office for National Statistics, gross domestic product expanded by 0.1% quarter-on-quarter, matching the initial estimate. The result followed the same 0.1% growth recorded in the third quarter.
In Germany, separate data showed that retail sales declined in February, largely due to weaker food purchases, while the country’s unemployment total remained unchanged in March.
Market indices across the region posted gains. France’s CAC 40 climbed 0.6%, while both the FTSE 100 in the U.K. and Germany’s DAX rose 0.9%.
Shares of Ashmore Group (LSE:ASHM) rallied after Japan Post Insurance said it plans to acquire up to a 2.9% stake in the British asset manager and commit $1 billion to emerging market funds managed by Ashmore.
Pharmaceutical company Sanofi (EU:SAN) also surged after receiving conditional marketing authorization from the European Commission for Rezurock.
Rail manufacturer Alstom (EU:ALO) jumped after securing an $800 million portion of a $2.75 billion multinational systems contract covering the AMECA region.
In London, Domino’s Pizza Group (LSE:DOM) shares advanced after the company confirmed that interim chief executive Nicola Frampton will take the role permanently.
Unilever (LSE:ULVR) also traded higher after the consumer goods giant said it was in advanced discussions to combine its food business with spice producer McCormick.
Meanwhile in Paris, shares of Casino Group (EU:CO) dropped sharply after the retailer outlined key elements of new proposals aimed at restructuring and strengthening its financial position.
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