In European Equity Markets the pan-European Stoxx 600 was up 1.8 percent, with all sectors and major bourses in positive territory. Europe’s basic resources were the top performers, sector up more than 3.6 percent. Looking at individual stocks, WPP announced it would cut 2,500 jobs over three years and spend £300 million ($382 million) as new boss Mark Read bids to return the world’s biggest advertising group to growth. Shares rose 5 percent. Meanwhile, Standard Life Aberdeen fell toward the bottom of the European benchmark after RBC cut its stock recommendation.

In Currency Markets sterling recovered some ground on Tuesday from the 20-month lows it hit after British Prime Minister Theresa May called off her Brexit vote, as dollar weakness encouraged some traders to buy the pound. May’s decision on Monday initially sent the pound tumbling 2-1/2 cents towards $1.25, its lowest level since April 2017, before it recouped some losses – though the moves were exaggerated in thin trade. The pound was trading at $1.2630, up 0.6 percent on the day after plunging 1.5 percent on Monday.

In Commodities Markets oil rose almost $1 on Tuesday, recovering some of the previous session’s losses with the help of gains in global stocks, a slightly weaker dollar and an outage hurting Libyan production. Benchmark Brent was up 90 cents on the day at $60.87 a barrel, having fallen 3 percent the day before. U.S. light crude gained $1.07 to trade at $52.07. Russia said on Tuesday it planned to cut its oil output by 50,000 to 60,000 bpd in January, as gradually building to an agreed cut of 220,000 bpd.

In US Equity Markets stocks jumped on Tuesday, rising for the second day in a row, led by technology companies on signs of progress between China and the United States to resolve their trade dispute, which has roiled the markets for months. The trade-sensitive chip-makers index jumped 2.12 percent. The industrial sector gained 1.23 percent, led by gains in Caterpillar Inc and Boeing Co. Pfizer Inc was down 1 percent after a JP Morgan downgrade. The drug-maker and Apple Inc, off 0.6 percent, were the only two Dow stocks trading lower.

In Bond Markets U.S. Treasury yields drifted higher on most maturities except for 30-year bonds, as equities rallied amid positive developments in trade negotiations between the United States and China. In mid-morning US session, the 10-year note yields edged up to 2.862 percent from 2.856 percent late on Monday. U.S. 30-year bond yields, however, fell to 3.112 percent from 3.129 percent on Monday. On the short end of the curve, U.S. 2-year yields inched up to 2.745 percent, compared with Monday’s 2.727 percent