Rising French Confidence lifts European stocks

Rising French consumer confidence pushed European stock markets to greater heights on Tuesday.

Germany’s DAX was up 0.7%. France’s CAC 40 improved 0.8%. The U.K.’s FTSE index gained 0.7%.

The upbeat performance in the European markets was due to French consumer confidence that soared in March. According to the INSEE stats agency, its monthly consumer sentiment index soared to its highest level since December to record 94 points versus February’s 91.

In Britain, lockdown restrictions were lifted, benefitting from its successful inoculation program. However, Prime Minister Boris Johnson warned the British people to remain cautious, as Europe’s third wave of coronavirus infections is likely to “wash up on our shores” sooner or later.

Also helping the European stocks was a positive handover from Wall Street, led by Dow Jones Industrial Average reaching its new record high on Monday.