Mining, travel stocks lift European shares on recovery bets

  • Reuters
  • Stock Market News
Mining, travel stocks lift European shares on recovery bets
Credit: © Reuters.

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May 4 (Reuters) - Economically sensitive sectors, including miners, travel and energy, drove gains in European stocks on Tuesday, with British shares outperforming after a holiday-extended weekend.

The pan-European STOXX 600 index .STOXX rose 0.4% in early trading, with the German DAX .GDAXI up 0.2% and UK's FTSE 100 .FTSE rising 0.8%.

Travel and leisure sector's .SXTP 1.3% gain was the most in Europe, benefiting from Britain's expected announcement of a green list for countries that people can travel to on holidays. .SXPP and oil and gas .SXEP sectors also rose more than 1% as investors bet on a strong global rebound on the back of massive vaccination programmes in developed countries and unprecedented stimulus.

Tech stocks .SX8P struggled after their Wall Street peers came under pressure on Monday.

Dassault Aviation AVMD.PA jumped 5.2% after Egypt's defence ministry said it had signed a contract with France to buy 30 Rafale fighter jets.

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