European equities finished higher on Tuesday, boosted by positive trade overseas and a bounce back in oil prices.
Deutsche Bank rises
The pan-European STOXX 600 index finished trade up 1.4 percent provisionally. All sectors ended in positive territory except for basic resources, off 0.8 percent as low commodity prices weighed.
Energy and mining stocks dragged down the heavily exposed U.K. FTSE 100, which under-performed other major European bourses to close trade up 1 percent. By comparison, the French CAC 40 ended 1.8 percent higher.
The bank's stock ended up around 2.5 percent, on the news that the bank had agreed to sell its 20 percent stake in China's Hua Xia Bank for up to $4 billion, as it seeks to raise cash and reduce its balance sheet exposure.
Anglo American slips 6%; UK floods in focus
With London-listed miners being among the worst performers in Europe, shares of Anglo American tumbled 6.3 percent, with fellow miners, Rio Tinto and Fresnillo both closing lower. Despite this, prices in nickel and copper recovered by Europe's close.
Oil and gas firms were also in focus Tuesday as the fluctuating price of oil kept investors cautious. Oil exploration firm, Tullow Oil was among the laggards, off more than 3 percent, while oil giant BP ended down 1.4 percent.
However, other firms were posting strong gains, including Subsea 7 and Sbm offshore, as oil prices bounced back from Monday's trade. U.S. crude was up at $37.70 by Europe's close, while Brent was at $37.50, however concerns over a global supply glut lingered.
Showing how low energy prices are impacting major oil producer economies, Saudi Arabia announced plans on Monday to cut spending to reduce a record state budget deficit.
Meanwhile, shares of sports retailer Adidas finished up 2.7 percent. This came after the company's finance chief, Robin Stalker, rebuffed claims that it was facing pressure from activist shareholders to offload more assets, such as the fitness brand Reebok, in an interview with the Financial Times newspaper on Tuesday.
London-listed insurance companies were in focus after the FTSE 100 reopened Tuesday, as northern parts of England prepare to handle more heavy rain, which has already resulted in billions of pounds-worth in property damage from flooding.
Despite earlier losses, RSA Insurance and fellow U.K. firms, Aviva and Standard Life pared losses to close slightly higher. House builders posted strong gains on the back of the news, with Taylor Wimpey and Persimmon closing up over 3 percent.