European markets close higher; Volvo Cars ends 9% higher on sales record

This is CNBC's live blog covering European markets.

European markets closed higher on Tuesday as investors in the region digested inflation data and corporate earnings releases.

The pan-European Stoxx 600 index ended the session up 0.32%, with mining, utilities and construction stocks among the few sectors in negative territory.

Major bourses were in mixed territory, with the FTSE 100 down by around 0.05%.

Annual inflation in the euro zone rose to 2.4% in December, a flash estimate from Eurostat showed on Tuesday, up from 2.2% in November. The print — which was in line with expectations, according to a Reuters poll of economists — was lifted by high services costs and rising energy prices.

Preliminary data from French statistics agency Insee on Tuesday, meanwhile, showed prices in France rose less than expected in December. The country's euro zone-harmonized consumer price index was up 1.8% year-on-year, less than the 1.9% anticipated by economists polled by Reuters.

The French figures come a day after German inflation data showed the country's consumer price index jumped to a higher-than-expected 2.8% in December. Analysts polled by Reuters expected a 2.6% reading.

In auto news, shares of Volvo Cars closed up around 9.25% after the Swedish carmaker reported a new global sales record for 2024.

Overnight, Asia-Pacific markets rose Tuesday, following Monday's rally in technology shares on Wall Street that saw the S&P500 and Nasdaq Composite post back-to-back gains.

U.S. stocks opened higher on Tuesday morning, with the Dow, S&P 500 and Nasdaq Composite all slipping into the red later in the session.

Correction: This blog has been updated to reflect that German statistics agency Destatis corrected its year-on-year harmonized