European stocks experienced modest gains during cautious trading on Tuesday ahead of the upcoming Christmas break. Notably, the German DAX did not trade, and the FTSE 100 along with the CAC 40 planned to close early in observance of Christmas Eve.
Markets across the United Kingdom, Germany, Spain, and France were scheduled to remain closed on Wednesday and Thursday for the Christmas holiday.
The pan-European STOXX 600 index saw an increase of 0.4 percent, reaching 503.94, following a modest rise of 0.1 percent on Monday. France's CAC 40 improved by 0.4 percent, while the UK's FTSE 100 climbed by 0.3 percent.
In Paris, companies such as LVMH, Kering, and Hermès International, which are linked to the Chinese market, observed moderate gains after China's finance ministry announced plans to boost public spending in 2025, with a stronger emphasis on encouraging consumption to support economic growth.
Alstom SA saw its shares rise by approximately 1 percent as the company disclosed securing two new contracts from undisclosed European clients, totaling around 760 million euros in December.
Energy stocks followed the upward trend of oil prices, with BP Plc increasing by half a percent and Shell, its peer, rising by 0.8 percent in London.
However, Vistry Group experienced a significant downturn, dropping over 17 percent, as the housebuilder issued its third profit warning of the year, attributing the decline to delays in expected year-end transactions and completions.
Meanwhile, AstraZeneca made slight gains. After receiving feedback from the European Medicines Agency, the British pharmaceutical giant, in collaboration with Japan's Daiichi Sankyo, opted to voluntarily withdraw their marketing authorization application within the European Union for the advanced lung cancer treatment Dato-DXd.
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