European markets rebound amid elevated oil prices

London (UKX) +0.36% at 9,929.

Germany (DAX:IND) +0.15 to 22,693. Germany’s business activity growth slows in March.

France (CAC:IND) +0.52% to 7,766. French economy weakens in March as supply-side pressures intensify.

In other parts of Europe, Euro Area Composite PMI misses expectations at 50.5 in March; manufacturing rises, services slip.

Switzerland’s current account surplus narrowed sharply to CHF 7.0B in Q4.

The consumer confidence indicator in the Czech Republic rose 0.6 points to 110.4 in March.

Finland’s unemployment rate rose to 10.9% in February.

The pan-European Stoxx 600 (STOXX) traded 0.35% higher to 579.3, despite fading hopes for de-escalation in the Middle East conflict after Iran denied holding talks with the U.S. to end the standoff. Iran continued strikes on U.S. assets in the region, while Israel launched fresh attacks against Iran and Lebanon. Investors will be closely watching the economic numbers from major countries in the bloc for insight into how businesses are coping with heightened geopolitical uncertainty. EU car sales rebound in February, EVs capture rising share.

European natural gas futures rose to around €57.4 per MWh on Tuesday, after a two-day decline, as traders weighed conflicting signals. Oil prices are still elevated due to supply risks, which is giving a boost to energy-heavy European indices.

Coming up in the session: UK PMI numbers expected shortly.

In the bond market, the yield on the US 10-year Treasury was up 2 basis points to 4.36%.

UK’s 10-year yield was down 1 basis point to 4.91%.

Germany’s 10-year yield was down 2 basis points to 3.00%

Currencies: (EUR:USD) (GBP:USD) (CHF:USD)

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