Financial news from around the world

1. European stocks traded firmly higher early Tuesday as investors regained some optimism for tax cuts and fiscal stimulus from President Donald Trump and focused on improving fundamentals in the Eurozone economy.

2. Ericsson (ERIC - Get Report)  said Tuesday that it will take a much larger-than-expected restructuring hit as it seeks to steady its finances and realign its business model under new CEO Borje Ekholm.

3. Tesco (TSCDY)  said Tuesday that it reached an agreement with the U.K.'s Serious Fraud Office and Financial Conduct Authority over a historical accounting scandal.

4. Akzo Nobel NV (AKZOY)  said Tuesday that it will update investors on April 19 on the progress of its strategic review that could split the Dutch chemicals group into two "focused businesses" in order to boost shareholder value.

5. Allianz SE (AZSEY) shares edged higher in Frankfurt Tuesday after a unit of Europe's biggest insurance group reached an agreement with Bill Gross over his departure from Pacific Investment Management Co. in 2014.