European stocks bounced back Tuesday after Russia said it’s withdrawing some troops from the border of Ukraine.
After sliding 1.8% on Monday, the Stoxx Europe 600
SXXP,
+1.21%
rose 1.3% to 466.82. This year the pan-European benchmark has dropped 4%, outperforming the S&P 500 which has dropped 8%.
Of the major regional indexes, the German DAX
DAX,
+1.62%
gained 1.7%, the French CAC 40
PX1,
+1.27%
increased 1.3% and the U.K. FTSE 100
UKX,
+0.77%
increased 0.9%.
Most sectors advanced, with healthcare shares in particular seeing strength as AstraZeneca
AZN,
+4.86%
rose 5% and Novo Nordisk
NOVO.B,
+3.34%
rose 3%, though energy companies including Equinor
EQNR,
-5.00%
and TechnipFMC
FTI,
-3.36%
slumped as oil prices retreated.
