European stocks opened the second quarter of 2024 higher, with focus on a slew of economic data including inflation data from Germany, which could provide clarity on the timing of an interest rate cut by the European Central Bank.
The Euronext 100 index rose 0.77%, or 11.6 points, to 1,538 points, and the Stoxx 600 index rose 0.3% by 0700 GMT, as investors returned to the markets after a long weekend and Easter break.
Germany's DAX rose 0.3% ahead of consumer price index data, with economists polled by Reuters expecting an annual increase of 2.2% in March, compared with a 2.5% increase in the previous month.
UBS shares rose 1.2% after the bank announced it would launch a new share buyback program worth up to $2 billion, with up to half of it due to be completed in 2024.
British stocks started the second quarter on a high note, helped by gains in energy and metals stocks, while HSBC shares rose after the sale of its Canadian unit.
The FTSE100 index, which traders around the world focus on, rose 0.5%, while the domestically-oriented FTSE250 index rose 0.4%. Both indexes touched their highest levels in more than a year.
