In European Equity Markets the pan-European Stoxx 600 closed up by 1.6%, with basic resource stocks leading gains with a 3.6% jump. Carlsberg reported full-year sales broadly in line with expectations and forecast mid single-digit organic profit growth in 2020, sending the Danish brewer’s shares around 3% higher. Energy giant BP posted better-than-expected full-year net profit, reporting a year-on-year fall of 21% on weak oil and gas prices. BP shares climbed 4%.

In Currency Markets the Australian dollar and offshore Chinese yuan climbed on Tuesday as risk appetite picked up, although the spread of a novel coronavirus in China remained a threat. The Australian dollar rose as much as 0.5% to $0.6725, pulling away from a 10 1/2-year low of $0.6670 touched last October, after the Reserve Bank of Australia left its main cash rate unchanged at 0.75%. Paring back some gains, it was last up 0.3% at $0.67140.

In Commodities Markets oil prices clawed back ground on Tuesday on hopes for additional production cuts from OPEC and its allies to offset any potential demand decline triggered by the coronavirus outbreak. Brent crude was up 93 cents, or 1.7%, at $55.38 a barrel, while U.S. West Texas Intermediate (WTI) crude stood at $51.31 after a 2.4% rise of $1.21. The gains marked a rebound after an extended slide over the past two weeks on concern over the global economic impact of China’s coronavirus.

In US Equity Markets gains in technology heavyweights helped Wall Street’s main indexes climb for the second day on Tuesday, with fresh intervention by China’s central bank calming investor nerves. The S&P 500 was up 1.42 percent, at 3,294.95 and the Nasdaq Composite rose 1.49 percent, at 9,411.34. Ralph Lauren Corp jumped 6.4% after the retailer’s holiday-quarter profit beat market expectations. Health insurer Centene Corp fell about 0.5%, weighed down by a surge in quarterly medical costs.

In Bond Markets U.S. Treasury yields rose on Tuesday as investors were encouraged by steps taken by China in response to the coronavirus. The benchmark 10-year yield was up 6.5 basis points in morning trading at 1.5854%. The 10-year note reached as high as 1.599% earlier on Tuesday. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 4.8 basis points at 1.401% in morning trading.