In European Equity Markets the pan-European Stoxx 600 closed 0.45 percent higher. Oil stocks rose 1.69 percent and basic resources gained 1.76 percent, the latter becoming the top-performing sector on the day. Next led the gains across Europe, up by more than 7.6 percent on Tuesday. The retailer reported a 0.5 percent increase in first-half profit and a decision to lift its guidance for the year. The UK listed miner, Glencore, moved was also up over 3 percent after announcing plans to repurchase a further $1 billion of its own shares.

In Currency Markets sterling climbed for a second consecutive day on Tuesday as a struggling dollar and growing expectations of a Brexit deal fueled demand for the British currency. The pound rose 0.4 percent to $1.3175 as traders covered some of their short bets after a big selloff last week. Still investors were wary of pushing sterling above last week’s high of $1.3295 as concerns about the British political situation dogged sentiment. Against the euro, the British currency was broadly flat at 89.54 pence.

In Commodities Markets crude oil prices jumped to a fresh four-year high on Tuesday, rallying as U.S. President Donald Trump spoke heatedly about Iran ahead of U.S. sanctions on the country’s crude exports and bolstered by the apparent reluctance of OPEC and Russia to raise output to offset the potential hit to global supply. Brent crude futures were up $1.00 a barrel at $82.20, having touched a session peak of $82.55, the highest price since Nov. 10, 2014. U.S. crude futures were up 25 cents at $72.33 a barrel, close to their highest since mid-July.

In US Equity Markets main U.S. stock indexes were little changed on Tuesday, as energy stocks gained with oil prices hitting a four-year high, offsetting losses in Facebook and chip-makers. Facebook fell 0.9 percent and was the biggest drag on the Nasdaq and the S&P 500, after co-founders of its photo-sharing app, Instagram, resigned with scant explanation. Intel fell 1.8 percent after Raymond James downgraded the stock. Nike was off 0.4 percent ahead of its quarterly results, expected after the bell.

In Bond Markets Italian borrowing costs fell sharply on, narrowing the gap with German peers, on signs the country’s anti-establishment coalition is likely to reach a compromise over its 2019 budget. Italian bond yields were down 7 basis points, having fallen as much as 12 basis points earlier in the day . The move reversed most of the rises made after Draghi’s speech on Monday. Outside Italy, most euro zone bond yields were 1 to 3 bps higher. French 10-year bond yields hit their highest in over three months.