European markets closed higher on Tuesday as sentiment improved and investors brushed aside economic fears over the coronavirus outbreak.

The pan-European Stoxx 600 closed was up by 1.6% at 418.44, with basic resource stocks leading gains with a 3.6% jump.

Global markets are seeing a rebound in sentiment after sharp declines related to concerns over the spread of the coronavirus. In Asia, mainland Chinese stocks were higher by Tuesday as investors weighed the potential economic impact of the outbreak. As of end of Monday, there were a total of 425 deaths and 20,438 confirmed cases in the country.

Source : CNBC