Equity markets in Europe closed a tough higher on Tuesday afternoon, as investors monitored a number of geopolitical issues and looked ahead to a new earnings season.
The pan-European Stoxx 600 crept into positive territory during afternoon deals at 391.35, paring earlier losses,and finishing provisionally 0.25 percent higher. Banking stocks led the losses, down more than 1% ahead of earnings announcements from large financial firms this week.
Oil and gas stocks surged by over 2.2% on the back of the news that the U.S. will end all waivers on sanctions against Iranian oil imports. This has driven oil prices higher with the commodity nearing 2019 highs on Tuesday. Higher oil prices also led to a sell-off in airline stocks across Europe on Tuesday. Air France-KLM was the worst example, slipping almost 6 percent.
Source : CNBC