European stocks rally for second day on coronavirus slowdown hopes

European stocks advanced on Tuesday, for the second straight day, as the market sentiment improved after signs on a slowdown in coronavirus infections in Europe, in addition to hopes about easing the lockdown in most countries, which will lower economic impact of the pandemic. 

The Stoxx Europe 600 index rose 3.2% as of 11:15 GMT, after it closed higher by 3.7% yesterday, to post the largest daily gain in 2 weeks, after signs on a slowdown in coronavirus infections in Italy, Spain and Germany.

The index opened today's session higher, for the second straight day with most European markets and sectors seeing green today.

The travel and leisure sector saw the largest gains in Europe today, as its stocks rose more than 8%, on upbeat news about easing the travel restrictions in Europe.

The European markets were lifted by positive data from Italy, Spain and Germany, which a slowdown in new infections and deaths of the Covid-19 virus, with the lowest numbers of infections and deaths in more than two weeks.

This positive news overshadowed the British government's statement about transfering the British PM Boris Johnson to intensive care, as he started to show worse symptoms.

S&P 500 futures rose 3.0%, and hit a 4-week high, after the index closed higher by 7% yesterday at Wall Street, after new infections and deaths from the deadly disease slowed in New York.

Back to Europe, the Euro Stoxx 50 index rose 3.2%, France's CAC 40 rose 3.1%, the German DAX jumped 4.1%, and the UK's FTSE 100 added 3%.