Europe Markets: European stocks rise at the open on lockdown-lifting optimism

Europe Markets

In this grab taken from video issued by Downing Street on Sunday, May 10, 2020, Britain’s Prime Minister Boris Johnson delivers an address on lifting the country’s lockdown amid the coronavirus pandemic.


Associated Press

European stocks rose on Monday on optimism over lockdown restrictions being lifted across the globe.

The German DAX
DAX,
+0.57%

rose 0.3% and the U.K. FTSE 100
UKX,
+0.79%

, after a three-day break, rose 0.8%.

Stocks hit hard during the crisis including Virgin Money UK
VMUK,
+6.25%

and
CINE,
+6.41%

led the gainers, while more defensive healthcare stocks including GlaxoSmithKline
GSK,
-0.31%

and Sanofi
SAN,
-0.04%

edged lower.

Worldwide there’s been a pickup in new virus cases, notably in Africa, Brazil and Russia. South Korea has seen a new cluster linked to nightclubs.

But financial market attention was focused more on signs of more economic activity, with U.K. Prime Minister Boris Johnson on Sunday announcing a relaxation of restrictions and Shanghai Disneyland reopening to mask-wearing visitors.

EasyJet
EZJ,
-5.15%

fell 3.5% as the U.K. government discussed over the weekend a 14-night quarantine on incoming travellers. Airlines UK, a trade body, said it’s been told the quarantine will start at the end of the month.

The yield on the 10-year Italian government bond
TMBMKIT-10Y,
1.824%

fell 4 basis points as European Central Bank board member Isabel Schnabel said in an interview with La Repubblica that the central bank is committed to countering a divergence in spreads.

Futures on the Dow Jones Industrial Average
YM00,
+0.45%

rose 70 points.

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