The UK market is higher in afternoon trading Tuesday, as investors remained optimistic about policy actions from central banks to support the economy and data showed that Eurozone producer price inflation eased to the lowest level in more than two years in May.
The Euro Stoxx 50 index of eurozone bluechip stocks is adding 0.37 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is gaining 0.35 percent.
The FTSE 100 is rising 0.25 percent.
Barclays is gaining 3.3 percent after Bob Diamond resigned as its CEO, following the rate-setting scandal.
Miners are trading form. Kazakhmys is gaining 3.6 percent and Vedanta is climbing 5.6 percent.
Aberdeen Asset Management is losing 3.3 percent.
Talvivaara Mining shares are plunging nearly 14 percent after the Finnish base metals producer said it is 'unlikely to achieve' production forecast for fiscal 2012.
Elsewhere in Europe, the German DAX is adding 0.55 percent and the French CAC 40 is gaining 0.10 percent. Switzerland's SMI is gaining 0.60 percent.
In economic news from the eurozone, the producer price inflation in the domestic market eased to 2.3 percent in May from 2.6 percent in April. This is the weakest rate since March 2010. On a monthly basis, the producer price index fell 0.5 percent, following a 0.1 percent gain in the preceding month.
The subdued inflation figures have fueled hopes for an interest rate cut by the European Central Bank in the upcoming meeting on Thursday.
Across Asia, markets ended in the green. China's Shanghai Composite Index gained 0.1 percent, Hong Kong's Hang Seng climbed 1.5 percent and Japan's Nikkei 225 rose 0.70 percent. Australia's All Ordinaries slipped 0.15 percent.
In the U.S., futures point to a mixed open on Wall Street. In the previous session, the major averages bounced back and forth across the unchanged line before ending the session mixed. The Dow edged down 0.1 percent, while the Nasdaq rose 0.6 percent and the S&P 500 crept up 0.3 percent.
In the commodity space, crude for August delivery is adding $1.67 to $85.42 per barrel and August gold is gaining $12.6 to $1610.3 a troy ounce.
by RTT Staff Writer
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