European markets close higher, US extends gains

ANKARA

European stocks closed higher Tuesday to bounce back from losses suffered during the previous day, while US indices extended their gains.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was up 5.26 points, or 1.17%, to close at 456.03.

London's FTSE 100 rose 66 points, or 0.94%, to 7,077, while Germany's DAX 30 index added almost 158 points, or 1.05%, to 15,194.

The French CAC 40 increased 98 points, or 1.52%, to 6,576. Spain's IBEX 35 rose 135 points, or 1.54%, to 8,927.

Italy's FTSE MIB was the best performer of the day, soaring 495, or 1.95%, to 25,956 points.

The rise came despite Eurozone services Purchasing Managers’ Index (PMI) falling to 56.4 in September, reaching its lowest level since April, according to London-based global data company IHS Markit.

The expectations index also fell to 8.0 in October, from 9.0 in September, to its lowest level since May 2020. It marked its fifth monthly decline in a row.

US extends gains

Major indices in the US extended their gains, recovering from losses in the previous session.

The Dow Jones was up 393 points, or 1.16%, to 33,395 at 12.51 p.m. in New York (1651GMT), while the S&P 500 gained 57 points, or 1.34%, to 4,357.

The Nasdaq increased 221 points, or 1.56%, to 14,476.

The VIX volatility index plummeted 8.2% to 21.08.

But the dollar index was up 0.15% to 93.92 and the yield on 10-year US Treasury notes rose 2.8% to 1.522%

Precious metals reversed course with gold falling 0.6% to $1,759 per ounce and silver trimming 0.4% to $22.59.

Oil prices were up, approaching three-year highs with a 1.7% gain. Brent crude was trading at $82.71 per barrel and the US benchmark West Texas Intermediate was at $78.97.

After climbing above the critical threshold of $50,000 late Monday, Bitcoin was at $55,055 -- a 3% increase.