UK's Raab: We are looking to de-escalate the tensions

Commenting on the US-Iran conflict, "We are looking to de-escalate the tensions. Our concern is that if there is a war it would be very damaging," British Foreign Secretary Dominic Raab said on Tuesday. "We need to find a diplomatic route through on Iran."

These comments were largely ignored by the market participants. Despite reports suggesting that Iran was assessing 13 retaliation scenarios against the US, major European equity indexes stage a decisive recovery on Tuesday with the Euro Stoxx 50 and Germany's DAX 30 adding 0.7% and 1%, respectively.