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European stocks hit record highs at close after economic data release
European stocks closed broadly higher on Tuesday, January 6, after indices in Germany and Spain hit record highs, buoyed by positive domestic economic data that diverted investors' attention from escalating international tensions.
The pan-European STOXX 600 index rose 0.63%.
Britain's FTSE 100 index climbed 1.18%.
France's CAC 40 index gained 0.32%.
Germany's DAX index also rose, gaining 0.11%.
Goldman Sachs raised its 12-month target for the STOXX 600 index on Tuesday, which closed 0.6% higher, a day after breaking above 600 points for the first time.
Germany's DAX and Spain's IBEX 35 index rose after hitting record highs in early trading, while Italy's benchmark index slipped 0.2%, paring gains after reaching a new peak.
Inflation in Germany, the region's largest economy, fell to 2% from 2.6%, below expectations of 2.2%. Inflation in France dropped to 0.7% from 0.8%, and in Spain, it declined to 3% from 3.2%.
Policymakers indicated they have no appetite for further interest rate cuts.
The healthcare sector index rose 3%, reaching its highest level since March. Danish drugmaker Novo Nordisk led the gains, climbing 5% after launching its Wijovi pill in the US on Monday, intensifying competition with Eli Lilly.
