European stocks rise for second straight day

Economies.com
2020-07-13 12:11PM UTC

European stocks rose on Monday, to extend gains for second straight session, on growing hopes about the recovery of major European economies from the coronavirus crisis, thanks to huge monetary stimulus measures in the eurozone economies.

 

The Stoxx Europe 600 index rose 1.3% as of 11:33 GMT, after closing higher by 0.9% on Friday, after strong economic data in Italy and France.

 

The Stoxx Europe index has gained 0.4% during the past week, posting its second weekly gain in a row, thanks to upbeat economic data and hopes for an European economic recovery.

 

The pan European index opened higher today, to head for the second straight daily gain, with most European markets and sectors seeing green today.

 

The mining and core resources sector saw the largest gains in Europe today, rising by 2%, on hopes of improving Chinese demand.

 

Investors' sentiment improved in the European market investors as the week starts, thanks to on growing hopes about the recovery of major European economies from the coronavirus crisis, thanks to huge monetary stimulus measures in the eurozone economies.

 

The business earning results season for the European companies and banks will kick off this week, amid expectations of strong earnings, after most European countries succeeded in containing the coronavirus outbreak, and the relaxed public lockdown measures.

 

S&P 500 futures rose 0.75%%, hitting a 5-week high, after the index closed higher by 1% on Friday at Wall Street, on positive news about the Gilead's promising Covid-19 treatment.

 

Back to Europe, the Euro Stoxx 50 index rose 1.5%, France's CAC 40 rose 1.5%, Germany's DAX added 1.3%, and the UK's FTSE 100 rose 1.2%. 

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