Markets in Asia and Europe got a confidence boost from Wall Street as investors shook off the impact of Islamist terrorist attacks in Paris Friday in which 129 people died. U.S. stocks continued posting positive gains around Tuesday's close, as investors cheered decent earnings reports.
Despite jumping on geopolitical concerns Monday, oil prices, however, came under pressure Tuesday, as investor sentiment returned to concerns over global oversupply in crude. At the close Brent crude was at $44.14 a barrel, while U.S. crude slipped further, trading at $41.31 a barrel.
Despite this, oil and gas sector was the top performing sector on Tuesday, closing up over 3 percent, with most of the sector posting strong gains. Repsol closed up over 5 percent, while Royal Dutch Shell and Subsea 7 finished trade above 3 percent.
Greece reached an agreement with its lenders on financial reforms early on Tuesday, its finance minister said according to Reuters, removing a major obstacle holding up fresh bailout loans for the cash-starved country. Athens stock exchange jumped on the back of this, finishing up over 2 percent.
U.K. deflation persisted in October, after data from the Office of National Statistics revealed the price of goods and services bought by U.K. households had fallen 0.1 percent, since October 2014. As this was in line with analysts' forecasts, the FTSE 100 and retail stocks finished trade higher.