European markets closed higher on Tuesday, bouncing back from the weak sentiment seen in the previous session.

The pan-European Stoxx 600 closed provisionally up 0.86 percent with almost every sector in the black. The benchmark reached a five-week intraday high.

Basic resources led the gains on Tuesday, rallying 4.78 percent, with the sector on track for its best day since President Donald Trump's election victory in November 2016. Meanwhile, autos stocks climbed 2.59 percent.

Trump is set to meet with European Commission President Jean-Claude Juncker on Wednesday, where the two will negotiate the U.S. president's tariffs on EU imports. Ahead of the meeting, Trump tweeted: "Tariffs are the greatest! Either a country which has treated the United States unfairly on trade negotiates a fair deal, or it gets hit with tariffs. It's as simple as that."

On Wall Street, stocks opened higher, as traders digested strong corporate earnings reports led by Google-parent Alphabet. The tech giant reported second-quarter earnings that showed a big bottom-line beat on estimates.