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Europe shares close higher; WPP shares up

European shares closed higher on Tuesday on raised hopes the European Central Bank (ECB) will launch further stimulus programs to boost the economy.

The pan-European FTSEurofirst 300 provisionally closed higher by 0.8 percent at 1,377.1 points, continuing the previous session's rally.

The German benchmark DAX and the French CAC ended unofficially higher by 0.9 percent and 1.2 percent respectively. Other euro zone indexes, such as the Spanish IBEX, also posted healthy gains, despite opening in negative territory.

The U.K.'s FTSE 100 ended unofficially 0.8 percent higher, having been closed for a bank holiday on Monday.

Symbol
Name
Price
 
Change
%Change
Volume
FTSE
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DAX
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CAC 40
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IBEX 35
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Draghi sends stocks higher

ECB President Mario Draghi boosted market sentiment after giving a dovish speech at the Jackson Hole central bank symposium in Wyoming, U.S. on Friday. Some analysts now believe that a major quantitative easing program will soon be announced.

"Draghi's comments at Jackson Hole have supported our view that the ECB will take the plunge into full-blown quantitative easing, probably around the turn of the year," Capital Economics' analysts said in a research note on Tuesday.

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WPP shares rise

In stocks news, shares of U.K.-based advertising giant WPP closed around 1.4 percent higher after it reported strong sales at its Russian operations despite the geopolitical tensions playing out in the region.

Read MoreWPP CEO: Russia sanctions will start to have an impact

However, British data group Telecity saw its shares close down nearly 6 percent after it said on Tuesday morning that CEO Michael Tobin had stepped down.

U.S. stocks rose on Tuesday, lifting the S&P 500 to another record high, after better-than-expected economic reports cast favorable light on the U.S. economy.

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