In European Equity Markets stocks rose to their highest in over 14 months on Tuesday, with optimism generated by encouraging manufacturing surveys outpacing a steep decline in HSBC shares after a fall in the heavyweight bank’s annual pre-tax profit. Europe’s biggest bank lost 6.5 percent and scored its biggest one-day fall in eight years after its results fell far short of analysts’ estimates as it took hefty writedowns from its restructuring. The pan-European STOXX 600 index rose 0.6 percent after falling earlier in the session. French oil storage and distribution company Rubis was up 4.6 percent after the company said a would buy Dinesa and its subsidiary Sodigaz, a fuel products distributor in Haiti.

In Currency Markets the U.S. dollar was broadly higher on Tuesday and was on course for its steepest gain against the euro in more than a month following hawkish comments from Federal Reserve officials, while European political uncertainty also boosted the dollar. Against the yen, the dollar was up 0.5 percent at 113.64 yen, putting it on track for its biggest one-day gain against the Japanese currency in 12 days. The euro was on course for its biggest one-day percentage decline against the dollar since Jan. 18. It fell 0.8 percent to a six-day trough of $1.0526. The euro fell to 8.8014 Norwegian crowns, its lowest since July 2015 as oil, one of Norway’s main sources of revenue, gained 1.5 percent. The dollar index was last up 0.5 percent at 101.460.

In Commodities Markets oil prices rose about 2 percent to near three-week highs on Tuesday after OPEC said it was sticking to its agreement to cut production and hoped compliance with the deal would be even higher as it expects other producers join its efforts to curb a global glut. Brent crude futures traded at $57.08, 1.6 percent higher after hitting the highest since Feb. 2 at $57.31. U.S. light crude as up 2 percent, at $54.47, after peaking at 54.68, its highest since Jan. 3. Futures for delivery in March were set to expire at the end of the trading session. Spot gold was down 0.3 percent at $1,233.79 an ounce. Silver fell 0.2 percent to $17.98 an ounce, platinum lost 0.7 percent to $992.85 and palladium gained 0.1 percent to $772.83.

In US Equity Markets stocks hit record intraday highs on Tuesday amid gains across sectors as strong earnings from top retailers underscored the strength of the U.S. economy. The Dow Jones Industrial Average was up 0.54 percent, at 20,736.27, the S&P 500 was up 0.53 percent, at 2,363.75 and the Nasdaq Composite was up 0.37 percent, at 5,860.08. All 11 major S&P sectors were higher on Tuesday, led by a 1 percent gain in the energy index as oil prices rose. Wal-Mart’s shares provided the biggest boost to the Dow, rising 4 percent after the company reported higher-than-expected U.S. sales. Department store bellwether Macy’s and home improvement chain Home Depot rose after the companies posted profits that topped estimates.

In Bond Markets U.S. Treasury debt yields edged higher in rangebound trading on Tuesday ahead of a U.S. two-year note auction, supported by generally improved market appetite for risk as stocks and commodities gained. In late morning trading, U.S. 10-year notes were last down 2/32 in price to yield 2.432 percent, up from 2.425 percent on Friday. U.S. 30-year bond prices fell 5/32, yielding 3.039 percent, up from Friday’s 3.031 percent. U.S. two-year note prices were flat, yielding 1.206 percent.