VIENNA (dpa-AFX) - French shares rose sharply on Tuesday as oil prices rebounded and central bank chiefs and policymakers around the world tried to calm the jitters over the economic fallout of Britain's vote to leave the European Union.
Oil prices bounced back after steep overnight losses amid a looming strike at several Norwegian oil and gas fields.
The selloff in sterling paused and safe-haven assets such as gold and the Japanese yen fell slightly, as South Korea announced an economic stimulus package of 20 trillion won (S$23 billion) and Japan said it's more ready than ever to act.
Speculation is also rife that the risk of financial and economic spillovers from Britain's so-called 'Brexit' vote would prompt the U.S. Federal Reserve to cut interest rates at its July meeting.
The benchmark CAC 40 was up 94 points or 2.35 percent at 4,078 in late opening deals after losing 3 percent on Monday.
Banks led the rebound, with Credit Agricole, BNP Paribas and Societe Generale Group climbing 2-5 percent.
Total SA shares advanced 1.5 percent. The company has been chosen by Qatar Petroleum to operate the country's biggest oil field for a period of 25 years.
On a relatively light day on the economic front, figures from the statistical office INSEE revealed that French consumer confidence dropped marginally as expected in June, after strengthening strongly in the previous month.
The corresponding index dropped to 97 from 98 in May, which was the highest level since October 2007.
Copyright RTT News/dpa-AFX