Investing.com - European stocks were higher on Tuesday, as upbeat manufacturing data from Spain and China lent support, although Monday's euro zone inflation report limited gains.
During European morning trade, the DJ Euro Stoxx 50 edged up 0.06%, France’s CAC 40 rose 0.28%, while Germany’s DAX added 0.16%.
Markit research group said that Spain's manufacturing purchasing managers’ index rose to 54.6 in June, from a reading of 52.9 the previous month. Analysts had expected the index to remain unchanged last month.
Separately, data showed that China’s official manufacturing PMI rose to a six-month high of 51.0 in June, in line with expectations and up from 50.8 in May.
Meanwhile, China’s final HSBC Purchasing Managers Index came in at 50.7, weaker than a preliminary reading of 50.8 but higher than May's 49.4 figure.
On Monday, preliminary data showed that the annual rate of inflation in the euro zone remained unchanged at 0.5% in June, lowering expectations that the European Central Bank will announce fresh monetary easing measures.
It was the ninth consecutive month in which the inflation rate was below 1%. The ECB targets an inflation rate of close to but just under 2.0%.
Financial stocks were broadly higher, as French lenders Societe Generale (PARIS:SOGN) and BNP Paribas (PARIS:BNPP) surged 1.90% and 2.76%, while Germany's Deutsche Bank (XETRA:DBKGn) added 0.10%. Late Monday, BNP Paribas agreed to plead guilty to U.S. sanctions violations and pay $8.97 billion.
Among peripheral lenders, Italy's Intesa Sanpaolo (MILAN:ISP) edged up 0.13%, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) rose 0.28% and 0.33% respectively.
Elsewhere, Bilfinger (XETRA:GBFG) dove 15.27% after the German builder cut its full-year profit forecast.
Kloeckner & Co (XETRA:KCOGn) added to losses, down 4.38%, after Credit Suisse downgraded the German steel trader's shares to "underperform".
In London, commodity-heavy FTSE 100 gained 0.38%, led by mining stocks.
Shares in Glencore Xstrata (LONDON:GLEN) advanced 0.83% and Fresnillo (LONDON:FRES) jumped 2.01%, while rivals Randgold Resources (LONDON:RRS) and Rio Tinto (LONDON:RIO) surged 2.15% and 2.52% respectively.
Financial stocks were also broadly higher, as HSBC Holdings (LONDON:HSBA) climbed 0.68% and Barclays (LONDON:BARC) advanced 0.66%, while Lloyds Banking (LONDON:LLOY) saw shares gain 0.71%. The Royal Bank of Scotland (LONDON:RBS) underperformed however, down 0.30%.
In the U.S., equity markets pointed to a higher open. The Dow 30 futures pointed to a 0.18% gain, S&P 500 futures signaled a 0.18% rise, while the Nasdaq 100 futures indicated a 0.22% increase.
Later in the day, the euro zone was to release data on the unemployment rate, while the Institute of Supply Management was to publish a report on U.S. manufacturing activity.