World stock
markets rose on Tuesday, lifted by a tepid recovery in oil prices from
11-year lows amid hopes of a boost in demand as colder winter weather
kicks in the northern hemisphere.
European stock markets followed Asia higher. The pan-European FTSEurofirst 300 .FTEU3 gained 0.4 percent after two days of falls.
Spain's IBEX .IBEX bounced off Monday's almost three-month lows on fears of political instability after the most inconclusive election in the country's history.
"The Spanish election hasn't helped in terms of market sentiment in Europe but it is going to be pretty quiet between now and Jan. 4, with a bit of noise from oil," said Chris Scicluna, head of economic research at Daiwa Capital Markets in London.
The dollar was steady against the euro and yen. Traders were looking ahead to U.S. economic data for fresh direction although the approaching holiday season kept ranges tight.
Brent crude rose 0.7 percent to $36.60 a barrel LCOc1, up from an 11-year-low of $36.04 hit on Monday. But after a 40 percent decline this year amid a supply glut, including an 11 percent fall in the past month alone, sentiment towards battered oil remained frail.
In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.5 percent higher, after Wall Street logged solid gains overnight.
China's CSI300 index .CSI300 was slightly higher, erasing earlier losses, while Japan's Nikkei stock index .N225 ended down 0.2 percent, though above session lows.
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Spain's IBEX .IBEX bounced off Monday's almost three-month lows on fears of political instability after the most inconclusive election in the country's history.
"The Spanish election hasn't helped in terms of market sentiment in Europe but it is going to be pretty quiet between now and Jan. 4, with a bit of noise from oil," said Chris Scicluna, head of economic research at Daiwa Capital Markets in London.
The dollar was steady against the euro and yen. Traders were looking ahead to U.S. economic data for fresh direction although the approaching holiday season kept ranges tight.
Brent crude rose 0.7 percent to $36.60 a barrel LCOc1, up from an 11-year-low of $36.04 hit on Monday. But after a 40 percent decline this year amid a supply glut, including an 11 percent fall in the past month alone, sentiment towards battered oil remained frail.
In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.5 percent higher, after Wall Street logged solid gains overnight.
China's CSI300 index .CSI300 was slightly higher, erasing earlier losses, while Japan's Nikkei stock index .N225 ended down 0.2 percent, though above session lows.
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