Commodities provided a helping hand in European trade on Tuesday, with basic resources outperforming the broader market, closing up 2.79 percent as a sector. Glencore, Anglo American and BHP Billiton all posted gains of 1.5 percent or more by the close, boosted by slight weakness in the dollar and a solid uptick in metal prices.
Elsewhere, crude prices were initially higher during trade, but came under pressure in the afternoon, as the U.S. dollar came off its session lows. At the market close, Brent traded at $51.37, while U.S. WTIhovered at $49.93.
Investor caution continues to mount however, as election day approaches in the U.S., and investors debate over when the U.S. central bank could raise interest rates. On Monday, the Federal Reserve Vice Chairman Stanley Fischer said that the U.S. central bank was "very close" to meeting its employment and inflation goals.