European stocks advanced on Tuesday

On Tuesday, August 7, European stocks advanced, supported by crude oil, and despite negative economic news. The Stoxx Europe 600 Index jumped 0.4 per cent to 267.87, boosted mostly by Standard Chartered, accused by a regulator from New York in hiding $250 billion in transactions tied to Iran.  At the same time, Spanish IBEX 35 Index rose by nearly 2 per cent to 7,200; Portugal's PSI 20 Index jumped 2.4 per cent to 4,820.43, and French CAC 40 Index increased by 1.2 per cent to 3,442.13. U.K's FTSE 100 index was little changed at 5,813.30.