US housing starts and German investor confidence rise

Economic data on Tuesday were mostly positive.

In the US, housing starts rose 6.8 percent in May. A 10 percent slump in applications for multifamily homes pulled building permits down 3.1 percent but permits for one-family homes rose to the highest since May 2008.

Another report from the US showed that consumer prices rose 0.1 percent in May. As a result, the 12-month inflation rate climbed to 1.4 percent last month from 1.1 percent in April.

Inflation also accelerated in the UK in May. The inflation rate rose to 2.7 percent last month from 2.4 percent in April.

In Germany, the ZEW index of investor confidence rose to 38.5 in June from 36.4 in May.