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European Stocks Rise Ahead of U.S. Consumer Confidence

LONDON (The Deal) -- European stock indices generally gained ground on Tuesday, while Asian stocks ended the day largely in the red ahead of U.S. data on durable goods orders and consumer confidence and more commentary from the European Central Bank boss.

In London, where markets were closed on Monday for a public holiday, the FTSE 100 climbed 0.57% to 6,854.94. In Frankfurt the DAX gained 0.41% to 9,933.44 and in Paris the CAC 40 slipped 0.04% to 4,525,31.

From the U.S., investors are watching out for data on April durable goods orders, which will be out at 8.30 a.m. EDT, and on May consumer confidence data, due out an hour and a half later.

European Central Bank President Mario Draghi will reflect on monetary policy in a "changing financial landscape" at an ECB forum in Portugal at 3.30 p.m. local time, or 9.30 a.m. EDT.

Dovish comments from Draghi on rates on Monday propelled the broad European Stoxx 600 index to its highest level since January 2008.

In London drugsmaker AstraZeneca (AZN) fell  almost 2% after Pfizer (PFE) on Monday pulled an indicative 69.4 billion pounds ($116.9 billion) takeover proposal which the New York company had sweetened three times. Pfizer announced its retreat just before a so-called "put up or shut up" deadline from the Takeover Panel, which gives bidders an initial 28-deadline from the  announcement of their takeover interest to either commit to making a bid or to retreat.

InterContinental Hotels Group was up more than 5% after a Sky News report that it had received and rejected a 6 billion pounds bid from a mystery U.S. suitor reportedly attracted by the idea of switching its tax domicile to the U.K.

Lloyds Banking Group (LYG) rose after firing the starting gun on the long-awaited  London IPO of about 630 bank branches it's carved out to comply with the terms of European Commission approval for state aid it received at the height of the credit crisis.

In Paris leading telecom Orange gained ground after Oddo Securities lifted its recommendation to buy from neutral.

Accor rose  after striking  deal to buy 86 hotels in Germany and the Netherlands for about 900 million euros ($1.2  billion). The seller is Moor Park Capital Partners.

In Taiwan, Asia Pacific Telecom pared earlier gains to close up 1.1% after it agreed to sell a  NT$11.7 billion ($388 million) stake to Hon Hai Precision Industry Co. Ltd. and to negotiate a full-blown merger deal with the Apple Inc. supplier.

In Hong Kong, the Hang Seng closed down 0.08% at 22,944.30, while in Tokyo the Nikkei 225 gained 0.23% to close at 14,636.52.

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