- The pan-European STOXX 600 ended up 0.56 percent provisionally, with all sectors except for basic resources closing higher
- Jerome Powell, the nominee to chair the Federal Reserve, is being questioned at Capitol Hill
- The Bank of England's stress tests revealed that no banks need to raise extra capital
European equities finished the trading day in the black on Tuesday, as investors digested individual stock news and comments from the next Federal Reserve chair.
The pan-European STOXX 600 ended up 0.56 percent provisionally, with all sectors except for basic resources closing on a positive note.
Oil and gas was Europe's top sector, amid individual stock news and expectations that OPEC members could extend a production cut deal lingered. Crude prices came under slight pressure, however.
Banking stocks finished higher after the Bank of England released the latest results of its stress tests. For the first time since 2014 none of the banks assessed need to raise extra capital. The scenario of the tests included risks that could be associated with Brexit, including a sharp fall in house prices.
In other bank-related news, Societe Generale announced Tuesday it is to close 15 percent of branches and cut up to 900 jobs in France by 2020 as the lender seeks to accelerate its move into digital banking. Shares eked out minor gains by the close.
Elsewhere, basic resources underperformed in the broader market, as a sharp decline in metal prices, such as copper and nickel, weighed on sentiment. The sector closed down 0.87 percent.