Another sunny day

European shares recorded a fourth consecutive gain on Tuesday with the benchmark index rallying to a post-Brexit high and Germany’s DAX 30 entering bull market territory, as actions of central banks, rebounding oil prices and better-than-expected corporate earnings results led to upbeat sentiment. Shares in Asia were also higher, and Wall Street narrowly logged its second record close of 2016, supported by gains of Walt Disney and Pfizer.

At the top of the Stoxx 600, Altice NV shares rallied 14% after the telecommunications company reported a 2.7% rise of its core earnings during the second quarter. The company added that growth in countries like the US and Portugal offset a slowdown of growth in France. But French telecommunications company SFR group said it is seeing signs of a better pricing environment in the mobile market it France. Its shares surged over 9%.

Germany’s DAX 30 rallied by 2.5% on Tuesday to close at 10,691.90 and pushing it into bull market territory. A bull market is typically defined as a rise of at least 20% from a recent low. The DAX hit its 2016 closing low of 8,752.87 on 11th February.

Retail shares were also trading higher after the British Retail Consortium announced that UK retail sales went up around 1% in July. Department store giant Marks and Spencer Group traded higher on this news, and added 2.4%. Likewise, shares in Burberry rose 0.7% during Tuesday’s session.

Supermarket chains were also trading in the green. Shares in Wm. Morrison’s picked up 1.9% after the company announced it has finalized a deal with Ocado Group, allowing Morrisons.com to utilize the online grocer’s technology. This news also sent Ocado shares surging some 7%. Elsewhere, shares in Tesco PLC traded 2.26% higher on Tuesday.

Oil and gas shares got off to a good start on Tuesday, but reversed early gains to end only marginally unchanged. Crude futures had reacted on Monday after OPEC announced plans to hold an “informal meeting during September. Nonetheless, shares of Resolute Energy were amongst the top gainers on Tuesday, rallying 17% after the oil and gas company said its loss narrowed in the second quarter.

Meanwhile, shares in Pandora struggled on Tuesday. The Danish jeweller’s quarterly profits and sales came in below expectations, sending shares tumbling 4.2%. Also struggling on Tuesday was Legal & General Group Plc. . The financial services provider posted a 9.6% rise in first half adjusted operating profit, but also reported a 48 million decline in insurance operating profit. Shares were down 5.6%.

A flurry of data released on Tuesday painted a mixed picture of the US economy. Wholesale inventories rose to a revised 0.3% in June , up from the initial estimate of no change, suggesting that inventories might not be as big a drag on second quarter growth as initially estimated. There are no Federal Reserve speakers this week. The next big event for the central bank will be Chairwoman Janet Yellen’s appearance at the Jackson Hole conference on the 26th August.