Global stock markets held largely steady on Tuesday as top US and Russian diplomats held their first high-level discussions since Russia invaded Ukraine.

The talks, which excluded Europe and Ukraine, ended with Moscow and Washington agreeing to appoint teams to negotiate an end to the Ukraine war.

"Donald Trump continues to be the dominant force for financial markets," said Kathleen Brooks, research director at XTB.

"Trump has ripped up the playbook when it comes to dealing with Russia, and the markets are keeping the faith with the US President for now," she added.