LONDON (AFP) - European stock markets rose strongly in the wake of a strong finish by Wall Street as world oil prices plunged from record high points above 55 dollars on profit-taking.
The London FTSE 100 index climbed Tuesday by 0.66 percent to 4,657.20 points, with the Frankfurt DAX 30 winning 1.63 percent to 3,979.15 points and the Paris CAC 40 jumping 1.60 percent to 3,718.40.
The DJ Euro Stoxx 50 index of leading eurozone shares advanced 1.38 percent to 2,806.97 points.
The euro stood at 1.2487 dollars.
US shares rallied strongly late Monday, reversing early losses to close moderately higher as world crude prices tumbled.
Weaker-than-expected profits at diversified technology group 3M and pre-presidential election nerves kept share prices in check, dealers said.
The Dow Jones industrials average of 30 top stocks ended 0.23 percent higher at 9,956.32 points and the technology-laden Nasdaq advanced 1.31 percent to 1,936.52.
The broader Standard and Poor's 500 index gained 0.53 percent to 1,114.02 points.
New York's main contract, light sweet crude for delivery in November, hit a record 55.33 dollars a barrel in electronic trading Monday before skidding to a close of 53.67 dollars, down 1.26 dollars on Friday's finish.
In London, British Airways soared 3.37 percent to 207.25 pence on falling crude prices. But way out in front was Reuters, the British news and financial information provider.
The price of shares in Reuters surged 7.12 percent to 346 pence after the group reported a 4.4-percent drop in core subscription revenue to 528 million pounds (759 million euros, 947 million dollars) during the third quarter from the same period of last year, ahead of its own forecast of a 5.0 percent fall.
In reaction, broker Citigroup Smith Barney retained its 'hold' recommendation. "We are more encouraged by the third quarter trading statement and expect the shares to react positively," it said in a note to clients.
In Asia, Tokyo's benchmark Nikkei-225 index closed 0.91 percent higher at 11,064.86 points on Tuesday, with technology shares boosted by positive third-quarter results from IBM and a drop in crude oil prices, dealers said.
Hong Kong key Hang Seng Index ended up 0.92 percent at 13,154.55 points.