European stocks closed higher on Tuesday amid indications of easing tensions on the Russia-Ukraine border.

Markets rallied after Moscow announced that some of its troops were returning to bases after completing training exercises near the Ukrainian border.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was up by 6.6 points, or 1.43%, to close at 467.5 points.

The UK’s FTSE 100 index ended the day at 7,608 points, up by 77.33 points, or 1.03%.

Germany’s DAX 30 climbed by 1.98%, or 298.74 points, to reach 15,412 points.

France’s CAC 40 was up 1.86%, or 127.77 points, to 6,979.

Italy’s FTSE MIB gained 552.5 points, or 2.09%, to close at 26,967 points, while Spain’s IBEX 35 rose by 144.2 points, or 1.68%, to 8,718 points.

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