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The pan-European Euro Stoxx 600 Index was higher by 0.1 percent in early deals. Most major bourses and sectors were higher with oil stocks leading the gains. The price of the commodity rose on Tuesday morning amid ongoing supply cuts.

· Asian shares drifted higher on Tuesday after two days of losses as U.S. 10-year Treasury yields edged up, but the outlook remained murky as investors weighed the odds of whether the U.S. economy is in danger of slipping into recession.

MSCI’s broadest index of Asia-Pacific shares outside Japan rebounded 0.2 percent after losing 1.4 percent in the previous session.

Investors have been spooked by sharp falls in U.S. bond yields and an inversion of the U.S. Treasury yield curve, which is widely seen as an indicator of an economic recession.

· Japan’s Nikkei bounced from five-week lows to close sharply higher on Tuesday as cyclical stocks rose on short-covering following a sell-off the previous day driven by fears of a sharp global economic slowdown.

The Nikkei share average ended 2.15 percent higher at 21,428.39, after recording its biggest drop since late December on Monday.

Analysts said that risk aversion eased somewhat after a slide in Wall Street had paused overnight, but concerns about a U.S. recession lingered.

· Chinese shares fell on Tuesday, extending the previous session’s sharp losses as investors remained concerned over the outlook for global growth and the next round of China-U.S. trade talks.

At the close, the Shanghai Composite index was down 1.51 percent at 2,997.10 points.