European markets closed slightly higher Tuesday, with investors in a cautious mood ahead of data releases and the start of second-quarter earnings season.
The pan-European Stoxx 600 ended 0.1% higher after a day of muted trade. Health-care and tech stocks led gains, up 0.5%, as banking stocks dropped 0.6%.
Figures on German trade out Tuesday morning showed a 0.1% monthly fall in exports and 1.7% rise in imports, taking its foreign trade balance to 14.4 billion euros ($15.7 billion).
The U.S. Federal Reserve will release the minutes of its last meeting Wednesday, after Chairman Jerome Powell said there was “more restriction coming.” Markets are currently pricing in an 89.9% likelihood of a 25-basis-point hike in interest rates July, according to CME’s FedWatch tool.
Oil prices ticked higher Tuesday after Saudi Arabia on Monday extended a voluntary 1-million-barrels-per-day oil production cut flagged for July into August.
Oil and gas stocks were a key driver of European share gains Monday, along with miners. That was despite concerns over the global economic outlook, as final manufacturing purchasing managers’ index figures from S&P Global showed a global slowdown in factory output in June.
U.S. markets were closed for the July 4 holiday on Tuesday. Asia-Pacific markets traded mixed.