European stocks rebounded on Tuesday in a broad-based advance.
Stoxx Europe 600
climbed 0.6% to 427.36 with all of the major industry sectors gaining ground.
U.S. stock futures were stronger as well. Federal Reserve chairman Jerome Powell is due to testify to Congress on the economic outlook. Markets also will be considering U.S. politics, as the New Hampshire primary results are expected to come on Tuesday night.
“There is a notable divergence between the reaction to the coronavirus in the stock markets to commodity markets,” said Jasper Lawler, head of research at London Capital Group. “We think that is probably explained by expectations for the monetary policy response. If central bankers do not reinforce that expectation today, it could unnerve investors. If they do, the record-breaking rally could have legs.”
Tui shares jumped nearly 12% after the tour operator modestly narrowed its fiscal first-quarter loss, stating it recorded improved booking trends and lifting its revenue outlook.
The travel and tourism company said it now expects high single-digit revenue growth for the year in its markets and airlines business versus previous guidance of mid-to-high single-digit revenue growth. Without mentioning
by name, Tui said it benefited from “the insolvency of a key competitor.”
shares climbed over 4% as the company said Judge Victor Marrero has informed it he will decide on the merger of
on Tuesday. Deutsche Telekom holds 63% of T-Mobile US.