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| - Stock markets mostly rose Tuesday with investors reassured by news that China and the United States would pursue a trade pact, while hopes for a coronavirus treatment provided extra support. German investors were cheered by better-than-expected economic data and another rise in the closely-watched Ifo business sentiment indicator. In New York, the Dow Jones index was 1.4 percent higher as trading got underway, while oil prices were boosted as an upgraded hurricane Laura threatened US oil installations in the Gulf of Mexico. China and the US provided dealers with much-needed cheer after announcing that top representatives had held phone talks on the trade agreement they signed in January. "A second strong day on the markets was most welcome news," commented Russ Mould, investment director at online broker AJ Bell. "Driving the latest gains in equities was renewed hope of an amicable trade deal between the US and China. "While optimism has quickly turned to pessimism on this topic many times in the past, it's encouraging to see the two sides talking rationally again," Mould said. There had been concerns about the future of the deal as the countries' relationship grows increasingly fraught over issues including Hong Kong, the virus, Huawei and TikTok. But on Tuesday, the Chinese commerce ministry said Vice Premier Liu He spoke to US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, and both sides "agreed to create conditions and atmosphere to continue to push forward the implementation of the phase-one of the China-US economic and trade agreement". The US side added in a separate statement that the two had discussed questions China had agreed to address in the agreement, including intellectual property and forced technology transfer. Global markets were already buoyant on growing optimism that a vaccine for the coronavirus is close, while the US Food and Drug Administration is looking to expand access to a virus treatment involving blood plasma from recovered patients. In Germany, the biggest eurozone economy, business confidence rose for the third month in a row in July, a key survey said. The Ifo institute's monthly barometer rose to 90.5 points, up from 86.3 in June, beating analyst expectations. Meanwhile, the national statistics institute Destatis revised upwards the 2020 second quarter gross domestic product (GDP) estimate to show a contraction of 9.7 percent, better than the initially reported 10.1 percent slump. Later this week, attention will turn to a virtual Jackson Hole Symposium meeting of central bankers, with the key event being Thursday's speech by Federal Reserve chief Jerome Powell. Investors hope Powell will provide an update on the world's top economy and some forward guidance on his plans for monetary policy. London - FTSE 100: DOWN 0.2 percent at 6,091.03 points Frankfurt - DAX 30: UP 0.7 percent at 13,157.57 Paris - CAC 40: UP 1.1 percent at 5,061.51 EURO STOXX 50: UP 0.9 percent at 3,362.86 New York - Dow: UP 1.4 percent at 28,308.46 points Tokyo - Nikkei 225: UP 1.4 percent at 23,296.77 (close) Hong Kong - Hang Seng: DOWN 0.3 percent at 25,486.22 (close) Shanghai - Composite: DOWN 0.4 percent at 3,373.58 (close) Euro/dollar: UP at $1.1834 from $1.1788 at 2100 GMT on Monday Dollar/yen: UP at 106.37 yen from 105.98 yen Pound/dollar: UP at $1.3148 from $1.3063 Euro/pound: DOWN at 90.02 pence from 91.19 pence Brent North Sea crude: UP 0.8 percent at $45.94 per barrel West Texas Intermediate: UP at $43.38 dan-rfj/wai/tgb
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