Europe stocks rally after U.S. confidence data

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Europe stocks rally after U.S. confidence data
LONDON (MarketWatch) -- European stock markets extended gains in afternoon action on Tuesday, after U.S. data showed consumer confidence climbed to a five-year high in May and beat analyst expectations. Earlier in the day, U.S. housing data showed home prices rose by the fastest annual growth rate in nearly seven years in March. The Stoxx Europe 600 index jumped 1.6% to 309.24. The U.K.'s FTSE 100 index climbed 1.9% to 6,782.98, while France's CAC 40 index added 1.8% to 4,066.33. Germany's DAX 30 index gained 1.6% to 8,521.13.