Global stocks enjoyed one of their best days in weeks on Tuesday ahead of a summit of European leaders that's expected to be dominated by calls to boost economic growth.

Europe remains the focus of attention across all financial markets in the run-up to the June 17 Greek election that could go a long way to determining the country's membership of the euro as well as the future of the single currency zone.

On Wednesday, the leaders of the 27 European Union countries will hold an informal meeting in Brussels. The summit is expected to focus on ways to kick start the region's faltering economy.