In Europe the FTSE added 0.7% whilst the CAC and DAX were stronger, each adding approximately 1.2%.
Stateside, gains were even more pronounced with the Dow and S&P added 1.6%, whilst the Nasdaq added 2.2%. For the Dow it was the best single session performance of the year.
Wall Street cheered progress on the debt ceiling negotiations, strong corporate earnings and positive housing data.
The British pound moved higher against several major currencies overnight ahead of Thursday’s summit of European leaders.
The greenback had its first positive session in several sessions, rallying against the yen amid positive discussions regarding a debt-ceiling agreement.
Amongst the commodities, copper and crude enjoyed solid gains, each up approximately 1.5%, whilst gold finished slightly weaker.
In company news, BHP achieved annual production records across four commodities and ten operations as a result of its strategy to invest throughout the economic cycle.
Today’s session will bring us data in the form of the Melbourne Institute leading index, at 10:30am, AEST.