London - European shares closed higher for the first time in three days on Tuesday after a sell that followed the British vote shock to leave the European Union with the weakened financial stocks leading the recovery.
The FTSEurofirst 300 index .FTEU3 rose 2.4 percent to 1,252 points, while the pan-European index STOXX 600 .STOXX was up 2.57 percent at 316 points after accumulating decrease of 11 percent in both previous sessions.
Insurance stocks .SXIP and .SX7P banks rose after being the most affected in the market confusion. The Legal & General LGEN.L was up almost 8.0 percent after stating that its balance sheet has proven resilient to the British vote and had adjusted their exposure to riskier assets earlier.
In other parts from the financial, Lloyds LLOY.L, Bankia BKIA.MC and Intesa ISP.MI increased between 4.8 percent and 8.3 percent, but UBS fell 2.0 percent UBSG.S , driven by the cut in price target.
Shares of Volkswagen VOWG_p.DE rose 1.7 percent after the German car maker agreed to pay more than 15.3 billion dollars to close an agreement on charges for having defrauded test US diesel emissions.
In London, the Financial Times .FTSE index advanced 2.64 percent to 6,140 points.
FRANKFURT, the DAX index rose .GDAX 1.93 percent, to 9,447 points.
In PARIS, the CAC-40 .FCHI index gained 2.61 percent to 4,088 points.
In MILAN, the FTSE / Mib .FTMIB index appreciated by 3.30 percent to 15,601 points.
In MADRID, the Ibex-35 .IBEX index recorded a rise of 2.48 percent, to 7,835 points.
In Lisbon, the PSI 20 .PSI20 index appreciated 2.31 percent to 4,358 points.
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