European stocks extend gains to 5-week high on Wall Street rally

European shares rose on Tuesday, extending gains for a third consecutive session, the highest level in five weeks, as sentiment continued to rise due to the strong rally of US stocks on Wall Street, with Germany's shares rising led by automakers.

Stoxx Europe 600 rose more than 0.7% as of 10:53 GMT, its highest level since May 7, while the index ended yesterday's session up 0.2%, the second daily gain in a row.

The Index rose on Tuesday to continue its gains for the third session in a row, with most of the major bourses and sectors in the positive region.

S&P 500 futures rose by more than 0.4%, and the index ended yesterday's session on Wall Street up 0.5%, the fifth consecutive daily gain, as fears of global trade wars eased.

The United States and Mexico reached an agreement on Friday to avoid a trade war, with Mexico agreeing to quickly expand a program to curb the flow of illegal immigrants from Central America. while the United States gave up its threat of a 5% tariffs on Mexican imports.

The automakers are the top gainer in Europe with a gain of more than 1.5% as the German market returns to business after a public holiday yesterday, with the rise in the shares of BMW, Daimler and Volkswagen.

Euro Stoxx 50 index rose 0.8%. while in France, the CAC 40 index gained 0.8%. with London's FTSE 100 adding 0.4%. as Germany's DAX rose about 1.3% to top the gainers list in Europe.