S&P 500 makes new record high

US stocks rose for a third consecutive day on Tuesday, with the S&P 500 gaining 0.7 percent to end at a record high.

Stocks rose amid generally positive US economic data. The Institute for Supply Management reported on Tuesday that its manufacturing PMI rose to 53.7 in March from 53.2 in February, Markit confirmed its March US manufacturing PMI of 55.5, while a third report showed that US construction spending rose 0.1 percent in February.

In the euro area, Markit reported on Tuesday that its manufacturing PMI for the region fell to 53.0 in March from 53.2 February but another report showed that the region's unemployment rate stayed unchanged at 11.9 percent in February.

Elsewhere in Europe, the UK Markit/CIPS manufacturing PMI fell to 55.3 in March from 56.2 in February.

China's manufacturing data on Tuesday were mixed. The HSBC manufacturing PMI fell to 48.0 in March from 48.5 in February but the government's manufacturing PMI rose to 50.3 from 50.2.

Meanwhile, Japanese business confidence has risen to a more than six-year high, according to data from the Bank of Japan on Tuesday. Its Tankan survey for the January-March quarter showed that its index for large manufacturers rose to plus 17 from plus 16 in December.