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European markets close mixed as sentiment lifts, inflation fears fade; DAX hits all-time high

  • The pan-European Stoxx 600 provisionally ended around 0.1% higher, with tech stocks adding 1.5% to lead gains. Mining stocks, meanwhile, slipped 1.7%.
  • Germany's DAX was the standout performer among major bourses, jumping to a fresh all-time high.
  • Deutsche Wohnen shares climbed more than 15% after announcing that it had agreed to a $22 billion takeover bid from Europe's largest residential property company Vonovia.

LONDON — European stocks closed mixed on Tuesday as easing inflation fears lifted market sentiment worldwide.

The pan-European Stoxx 600 closed around 0.03% higher, with tech stocks adding 1.3% to lead gains. Mining stocks, meanwhile, slipped over 1.7%.

Germany's DAX was the standout performer among major bourses, jumping to a fresh all-time high.

The latest Ifo business climate survey from Germany on Tuesday showed business morale climbing to a two-year high of 99.2 in May from April's 96.6. However, German gross domestic product shrank by more than expected in the first quarter, contracting by 1.8% as coronavirus restrictions weighed on household spending.

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