European stocks rose to kick off the week on Monday, with gains led by Deutsche Lufthans AG and Bayer AG, alongside an upbeat business sentiment survey out of Germany. But trade was thinner trade due to holidays in the U.K. and the U.S.
Extending earlier gains, the Stoxx Europe 600 index SXXP, +1.47% rose 1.1% to 343.98, after gaining 3.6% last week. That marked the best weekly return since the week ended April 9. The French CAC 40 index PX1, +2.14% jumped 1.5% and the FTSE MIB Italy I945, +1.61% gained 1%. U.K. markets will remain closed Monday for a Spring Bank holiday.
Leading regional indexes, the German DAX DAX, +2.86% surged 2% on a mix of data and corporate news. German business sentiment came in stronger than expected for May after a “catastrophic few months,” said the Ifo institute. The gradual easing of the lockdown “offers a glimmer of hope” for business, said Clemens Fuest, Ifo president.
In Europe, investors have also been cheered by news that major European countries are slowly reopening from shutdowns.
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