April 2 (Reuters) – European stocks started the second quarter on a positive note, focusing on a raft of economic data, including German inflation, that could provide clarity on the timing of rate cuts of interest of the European Central Bank.
The continent-wide STOXX 600 index was up 0.3% by 0712 GMT on Tuesday, as investors returned to markets after a long weekend and the Easter holidays.
Technology stocks boosted the benchmark index, with BE Semiconductor Industries jumping 4.6% after brokerage Barclays upgraded the stock from “overweight” to “equal weight”.
Germany’s DAX rose 0.3%, ahead of the release of the Consumer Price Index due at 1200 GMT, where economists polled by Reuters expect an annual rise of 2.2% in March, up from an increase of 2.5% the previous month.
The data from the region’s largest economy could be seen as a gauge of broader inflation in the euro zone, data from which is due on Wednesday.
UBS gained 1.2% after the lender announced the launch of a new share buyback program of up to $2 billion, half of which will be completed in 2024.
(Reporting by Johann M Cherian in Bengaluru; editing by Shounak Dasgupta)
