European stocks rally to 3-month high as global economies reopen

European stocks rose on Tuesday to a 3-month high, to extend gains for the second straight day, on strong investors sentiment amid major economies reopening measures, and hopes for a quick global economic recovery from the coronavirus impact. 

The Stoxx Europe 600 index rose 1.7% as of 11:05 GMT, to the highest level since March 9 at 360.16 points, after it closed higher by 1.1% yesterday, after stocks linked to with the economic cycle rallied.

The pan European index opened higher today, to extend its gains second straight day, and hit a 3-high high, with most European markets and sectors seeing green today.

The automobile sector saw the largest gains in Europe today, rising more than 5%, as fears eased about the tensions between the US and China over Hong Kong. 

The global market sentiment has improved thanks to the continued major economies reopening measures and relaxing the coronavirus-lockdown, and hopes for a quick global economic recovery from the coronavirus impact. 

S&P 500 futures rose 0.6%, and hit a 3-month high, after the index closed higher by 0.4% yesterday at Wall Street, posting its second straight daily gain.

Back to Europe, the Euro Stoxx 50 index added 2.6%, France's CAC 40 jumped 2.1%, Germany's DAX added 3.9%, and the UK's FTSE 100 rose 1.0%.