LONDON ( The Deal) -- European and Asian markets were generally in a cautiously positive mood Tuesday morning, boosted by a variety of factors, but all with the caveat that the good news generally arose from hoped-for government or central bank attempts to arrest underlying economic decline.
In Australia, the government abolished a controversial tax on iron ore and coal mining profits, just as it emerged that weaker demand for commodities helped the country's current account deficit almost to double in the second quarter. The central bank there also indicated it would maintain a loose monetary policy for now.
Watch the video below for a closer look at how Asian and European markets are faring in midday trading Tuesday:
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