LONDON: Global equities charged higher Tuesday, boosted by rising oil prices and news of buoyant German investor confidence.
Crude oil continued to climb despite lingering disappointment over last weekend's failed Doha oil output talks.
In the eurozone, Frankfurt rallied 2.0 percent in mid afternoon trading as a key survey, the German investor confidence index calculated by the ZEW economic institute, posted a robust increase in April.
That was the second monthly rise in a row and it beat analysts' forecasts.
Elsewhere, London stocks added 0.4 percent, after striking the highest level so far this year, while Paris won 1.0 percent in value.
"The FTSE 100 has traded at fresh 2016 highs... after a remarkable turnaround in oil markets yesterday has continued, and in doing so pushed stocks higher," said analyst David Cheetham at brokerage XTB.
"Equities looked vulnerable at the start of the week after a failure to agree on any tangible measures to quell the increasing levels of crude production amongst OPEC and non-OPEC members.
"However the impressive strength of the recovery suggests that the worst of the pain may be behind us."
The region's markets had already rebounded into modest gains on Monday, reversing initial losses that were sparked by the failure of oil producers to agree to an output freeze in Doha on Sunday.
"Doha meeting? What Doha meeting?" said analyst Brenda Kelly at traders London Capital Group.
"Yesterday's knee jerk decline in oil prices to the disappointing outcome was very quickly reversed as the day wore on. The price of the commodity is also amassing some support from the Kuwait worker strike."
Wall Street opened slightly higher Tuesday, despite significant first-quarter earnings disappointments from blue chips Goldman Sachs and IBM and a poor forecast from Netflix.
Tokyo, meanwhile, led a recovery in Asian stock markets, soaring more than three percent.
On Monday Asia ended lower while initial sharp losses in Europe and New York turned to gains as dealers were also lifted by positive comments on the US outlook and recent upbeat data out of China.
Federal Reserve Bank of Boston president Eric Rosengren declared Monday the world's number one economy was much healthier than financial markets thought and saw growth picking up through this year.
"While there have been significant headwinds from abroad, and market turbulence related to those headwinds, I view the US economy as fundamentally sound and likely to perform better than the domestic economies of most trading partners," he said.
Also, New York Fed president William Dudley said he foresaw inflation picking up as the economy improved.
The Nikkei had lost more than three percent Monday as the oil-price slump compounded the impact of two earthquakes last week that has led to some of the country's biggest firms including Toyota shutting down factories.
- Key figures around 1345 GMT -
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London - FTSE 100: UP 0.4 percent at 6,381.44 points
Frankfurt - DAX 30: UP 2.0 percent at 10,322.99
Paris - CAC 40: UP 1.0 percent at 4,552.51
EURO STOXX 50: UP 1.5 percent at 3,109.16
Tokyo - Nikkei 225: UP 3.7 percent at 16,874.44 (close)
Shanghai - Composite: UP 0.3 percent at 3,042.82 (close)
Hong Kong - Hang Seng: UP 1.3 percent at 21,436.21 (close)
New York - Dow: UP 0.2 percent at 18,034.63
Euro/dollar: UP at $1.1368 from $1.1315 on Monday
Dollar/yen: UP at 109.23 yen from 108.83 yen
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