BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks traded higher on
Tuesday after a survey showed that business activity in the euro zone expanded
at its fastest pace in nearly a year this month.

The composite PMI increased from 50.3 to 51.4 in April on the back of a buoyant
recovery in the bloc's dominant service sector.

Elsewhere in the U.K., a survey showed private sector activity in the country
expanded for the sixth consecutive month in April. The composite PMI rose from
52.8 to 54.0, hitting an 11-month high.

Expectations of interest rate cuts by the European Central Bank and the Bank of
England also helped underpin investor sentiment.

The pan European STOXX 600 rose 0.6 percent to 505.17 after closing up 0.6
percent on Monday.

The German DAX added 0.6 percent, while France's CAC 40 and the U.K.'s FTSE 100
both edged up around 0.3 percent.

Kuehne + Nagel International, a Swiss transport and logistics company, declined
2.6 percent after its first-quarter earnings fell 40 percent.

Drug major Novartis AG surged 4.7 percent after raising its full-year guidance.

JD Sports Fashion jumped more than 6 percent in London after it proposed to buy
Hibbett in a deal that values the American sporting-goods retailer at $1.08
billion.

Mining giant Anglo American tumbled 3.5 percent after cutting its diamond
production guidance.

Associated British Foods soared 9.5 percent. The Primark owner lifted its annual
profit guidance after reporting a 39 percent jump in first-half profit.

Home builder Taylor Wimpey rose about 1 percent after reaffirming its outlook
for 2024.

France's Renault SA fell about 1 percent as the auto major reported a marginal
rise in revenue for the first quarter.

SAP AG shares surged 3.5 percent. The German software maker reaffirmed its
outlook for 2024 after Q! cloud revenue increased 24 percent to 3.93 billion
euro.



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