European stocks close: stocks closed higher on rising oil prices

Stock indices closed higher on an increase in oil prices. Oil prices rose as Kuwait's oil production declined on the strike in the oil sector.

Positive economic data from the Eurozone also supported stocks. The ZEW Center for European Economic Research released its economic sentiment index for Germany and the Eurozone on Tuesday. Germany's ZEW economic sentiment index increased to 11.2 in April from 4.3 in March, exceeding expectations for a rise to 8.0.

"Surprisingly positive economic news from China seem to have improved the sentiment amongst financial market experts. On balance, however, the continued poor growth in China and other important emerging markets continues to be a burden for the German export industry. Furthermore, concern about Great Britain's possible exit from the EU seems to be having a negative impact," head of the "International Finance and Financial Management" Research Department at ZEW, Sascha Steffen, said.

Eurozone's ZEW economic sentiment index climbed to 21.5 in April from 10.6 in March, beating expectations for a decline to 8.8.

The European Central Bank (ECB) released its current account on Tuesday. Eurozone's current account surplus declined to a seasonally adjusted €19.0 billion in February from €27.5 billion in January. January's figure was revised up from a surplus of €25.4 billion.

The trade surplus fell to €24.6 billion in February from €30.4 billion in January. The surplus on services increased to €6.8 billion in February from €3.8 billion in January.

The ECB said in a survey on Tuesday that the negative deposit rate had a positive impact on lending volumes.

"Regarding the impact of the ECB's negative deposit facility rate, banks reported a positive impact on lending volumes, specifically for loans to households, but a negative impact on their net interest income and loan margins for the last quarter of 2015 and the first quarter of 2016," the ECB said.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,405.35 +51.83 +0.82 %

DAX 10,349.59 +229.28 +2.27 %

CAC 40 4,566.48 +59.64 +1.32 %