LONDON: Europe's main stock markets rose on Tuesday, with miners boosted by high copper prices, as investors welcomed news of Greece's return to international debt markets, dealers said.
London's commodities-heavy FTSE 100 index forged higher as copper struck a five-month pinnacle on keen demand and the flagging dollar.
Resources giants Anglo American and Antofagasta saw their respective share prices rise more than five percent, while BHP Billiton added 3.6 percent.
"Equities are nicely higher," noted Mike van Dulken, head of research at Accendo, saying strong company results from the US and a higher oil price added to positive sentiment.
In the eurozone, Frankfurt and Paris stocks garnered gains on increasing confidence over Greece, traders said.
Athens on Tuesday returned to debt markets for the first time in three years, with reports saying it was on track to raise funds at a lower cost than last time, marking a symbolic victory for the beleaguered nation.
The Greek news agency ANA said that initial transactions for the five-year government bonds put the yield -- the financing cost for the government or the rate of return for investors -- at 4.875 percent.
"Eurozone confidence is rising as the Greeks return to the debt market," said IG analyst Joshua Mahony.
- 'Stronger appetite' -
"There is now stronger market appetite for Greek risk," Barclays analyst Antonio Garcia Pascual said in a note to clients.
"Therefore, by tapping the markets, the (Greek) Treasury could indicate confidence in the Greek economy and on its future prospects."
German shares received a further boost from an Ifo institute report saying that confidence among German business leaders hit a "euphoric" all-time high in July.
Wall Street also showed healthy gains in early New York business.
Elsewhere Tuesday, Asian stock markets struggled as the dollar resumed its downward drift, with the focus turning to the Federal Reserve's two-day policy meeting that concludes Wednesday.
Thrown into the mix is the ongoing drama surrounding US President Donald Trump's administration, with his son-in-law and top adviser Jared Kushner giving testimony Monday in which he denied collusion with Russia to sway last November's election result.
In foreign exchange Tuesday, the euro was at its highest level since 2015 against the dollar.
- Oil rebounds -
The dollar has come under pressure on concerns about the future of Trump's economic agenda, a series of weak US data -- which have raised questions about future rate rises -- and expectations the European Central Bank is set to start tightening policy.
Oil prices rose nearly a full dollar after global crude producers, meeting in Russia Monday, called for stricter adherence to a agreement to cut output.
The Saudi-led OPEC global oil cartel, along with Russia and other large producers, met in the northwestern city of Saint Petersburg to assess the results of their November agreement to cut output in the hope of boosting prices.
"While the Oil markets are attempting to maintain gains following the latest OPEC meeting, I remain unconvinced whether the outcome to the gathering actually means anything for the price of oil in the long run," he said.
Instead, he said, producers were expressing hope that current cuts would eventually deliver a re-balancing of the oil market.
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