DAX jumps to 3-week highs, drives Europe higher

FXStreet (Mumbai) – The stocks on the European bourses reversed previous losses and jumped higher on Tuesday, tracking the solid recovery in their Asian counterparts as all in the commodity markets.

The German stocks led the European stocks higher on the back of stabilizing oil prices which boosted the recovery in energy and resource stocks. Germany’s DAX 30 index hit new three-week highs at 10,831, up 1.53% on the day. Deutsche Börse gained 1.73% and Deutsche Bank AG saw a 1.89% rise on Tuesday after the biggest German lender agreed to sell its stake in China’s Hua Xia Bank in a deal worth upwards of 23 billion yuan.

Among other European indices, the French CAC 40 index rallies 1.35% to 4,680, while the pan-European Euro Stoxx 50 index jumps 1.40% to 3,302.

The stocks on the European bourses reversed previous losses and jumped higher on Tuesday, tracking the solid recovery in their Asian counterparts as all in the commodity markets.

(Market News Provided by FXstreet)