In European Equity Markets the pan-European Stoxx 600 rose by more than 1 percent, with all major bourses and every sector except telecoms finishing in positive territory. Industrial stocks were the top performing sector with gains of 2 percent. WM Morrison fell 3 percent to near the bottom of the list. The retailer missed its Christmas sales forecasts. On the other hand, Carrefour rose almost 3 percent after Bank of America upgraded the stock. Chemicals firm Sika fell 4 percent following news that it will buy its French rival Parex for $2.55 billion.


In Currency Markets sterling fell half a percent on Tuesday as investors took advantage of an early surge to cut their positions ahead of what is expected to be a volatile week as British lawmakers debate Prime Minister Theresa May’s Brexit withdrawal agreement. British parliament is due to vote on the agreement on Jan. 15, and the run-up is likely to dominate trading of the British currency, with May set to lose the vote unless she can convince opponents within and outside her party to back her deal. A stronger dollar also weighed on the British currency.


In Commodities Markets oil prices rose gains on Tuesday, supported by hopes that demand may rise more quickly if talks between U.S. and Chinese officials resolve the trade dispute between the world’s two biggest economies. A possibility that OPEC-led supply cuts could be extended also supported prices. Brent crude futures were up 60 cents a barrel to $57.93 per barrel. U.S. West Texas Intermediate (WTI) crude oil futures climbed 63 cents to $49.15 per barrel. S&P Global Ratings said it had lowered its average oil price forecasts for 2019 by $10 per barrel to $55 for Brent and $50 per barrel for WTI.


In US Equity Markets stocks rose on Tuesday, as industrial stocks and Amazon helped extend Wall Street’s rebound for a third day on rising hopes of progress in U.S.-China trade talks. The S&P 500 was up 0.93 percent, at 2,573.46 and the Nasdaq Composite was up 0.82 percent, at 6,879.48. All the 11 major S&P sectors were higher, with industrials and communication services posting gains of more than 1 percent. PG&E Corp fell 10 percent after S&P Global Ratings stripped the California power utility of its investment-grade credit rating and kept it under review for a further downgrade.


In Bond Markets Turkey’s sovereign dollar-denominated bonds fell on Tuesday amid fears that tensions between Washington and Ankara were rising over Syria. The bonds were coming under pressure across the curve, with longer-dated issues falling the most. The 2041 issue fell 1.572 cents in the dollar to its lowest in three weeks with yields grinding higher towards 8 percent. U..S. Treasury yields rose for a third day, while the Treasury Department also prepared to sell new supply.

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