European stock markets closed higher on Tuesday as the International Monetary Fund warned of global growth, worries about the war in Ukraine and uncertainty over a new corporate earnings slump in the coming days.
On the board, the pan-European STOXX 600 index lost 0.8% to 456.28 points.
The German DAX closed with small losses of 0.1% at 14,153.46 points, the French CAC 40 fell 0.8% to 6,534.79 points, while the British FTSE 100 lost 0.2% to 7,601.28 points.
In the periphery, the Italian FTSE MIB fell 1%, while the Spanish IBEX 35 closed with small losses of 0.1%.
The climate was aggravated by the pessimistic forecasts of the International Monetary Fund for the course of world development due to the war in Ukraine. The IMF today cut its forecast for global growth by almost one percentage point, and warned that inflation is now a “clear and real risk” for many countries. The Fund now estimates that the global economy will grow at a rate of 3.6% in 2022, compared to its previous forecast of 4.4% growth.
Investors are expecting quarterly results from European giants such as Accor and L’Oreal in the coming days. First-quarter earnings for STOXX 600 companies are expected to increase by 24.7% from the same period last year, according to Refinitiv calculations, Reuters reports.
Source: Capital
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