- Hans Peterson, the chief investment officer of SEB Private Bank
Industrial new orders in the euro zone declined by more than forecast in February, Eurostat data showed on Tuesday. Orders decreased by a seasonally adjusted 1.3 per cent, after declining 2.9 per cent in January.
European stocks closed higher the same day after earnings from Nordea Bank AB to Kone Oyj topped analysts expectations.
The Stoxx Europe 600 Index rose 1.04 per cent to 254.37. Germany's DAX Index gained 1.03 per cent to 6,590.41 and France's CAC 40 Index added 2.29 per cent.
"Equities are stronger than in the fall, as central banks have moved to support the market with liquidity and removing the structural risks to banks, so markets should weather the recent turmoil better than last year," said Hans Peterson, the chief investment officer of SEB Private Bank in Stockholm.
"Investors are concerned about growth prospects, which may turn into a drag on the market, but that's not the case yet."
© Dukascopy Bank