European stocks hit 10-month high after Wall Street jumps new records

European stocks rose on Tuesday, heading for the fifth straight daily gain and hit a 10-month high, thanks to strong market sentiment after the US stocks jumped to new records.

The Stoxx Europe 600 index rose 0.6% as of 10:17 GMT, and hit the highest since February 403.26 points, at after it closed higher by 0.7% on Monday in the fourth straight daily gain, after the US passed a new fiscal stimulus package.

The pan European index opened higher today, extending its gains for the fifth straight day, and hit a 10-month high with most of the major European markets and sectors seeing green.

S&P 500 futures rose 0.5%, and hit an all-time record high ahead of Wall Street opening, after the index closed higher by 0.9% and posted its third straight daily gain and a new record high at 3,740.51 points.

US President Donald Trump signed on Sunday the new $2.3 trillion aid package, which is divided into $900 billion in stimulus checks and a government funding package of $1.4 trillion to ease the coronavirus impact.

The US Congress passed the fiscal aid package on last Tuesday, after months of talks between the US Democratic and Republican parties.

The US House of Representatives voted on Monday to increase the stimulus checks for eligible Americans to $2,000 from $600, and the bill was sent to the Senate for a vote.

Back to Europe, the Euro Stoxx 50 index rose 0.6%, France's CAC 40 rose 0.5%, and Germany's DAX rose over 0.4%.

The UK's FTSE 100 index jumped 2.4%, after the British market returned to work following a public holiday on Monday, amid strong sentiment after the historic trade deal between Britain and the European Union.