Investing.com -- European markets closed higher on Tuesday, although investor attention is fixed on unfolding political challenges in France this week.
Germany's DAX index gained 0.8%, France's CAC 40 increased by 0.3%, and the UK's FTSE 100 advanced 0.7%.
Data releases on the agenda for Tuesday include U.K. retail sales figures and Spanish unemployment data.
Focus on France: Political crisis looms
France’s markets will be under close scrutiny as Prime Minister Michel Barnier invoked special constitutional measures to pass a controversial budget bill without a parliamentary vote.
Opposition parties, spanning both left and right factions, have expressed intentions to back a no-confidence motion against Barnier’s minority government. The vote is expected to occur on Wednesday.
Oil prices edge higher ahead of OPEC+ meeting
Oil prices rallied Tuesday as markets awaited developments from an upcoming OPEC+ meeting on Thursday. A Reuters report stated sources had informed them that OPEC+ is likely to extend its latest round of oil output cuts.
At 11:35 ET Brent crude futures rose 2.6% to $73.67 per barrel, while U.S. West Texas Intermediate crude gained 2.8% to reach $70.
(Navamya Acharya contributed to this article.)