MW: Europe stocks extend gains as U.S. futures rise
By Barbara Kollmeyer
MADRID (MarketWatch) -- European stock markets extended an earlier positive run on Tuesday in the wake of encouraging U.S. housing starts data and lower bond yields for Spain and Italy. The Stoxx Europe 600 index XX:SXXP +1.38% was up just over 1.1% ahead of the data, but was last up 1.4% to 5,729.90. Data showed U.S. housing starts fell 5.8% in March, but permits reached the highest level since September 2008. In Europe, banks led the gains after a better-than-expected auction of Spanish debt triggered an ease in bond yields. The German DAX 30 index DX:DAX +1.57% rose 1.5% to 6,725.33, the French CAC 40 index FR:PX1 +1.51% rose 1.7% to 3,259.14 and the FTSE 100 index UK:UKX +1.15% rose 1% to 5,724.90.
