European shares rose in thin trading on Monday, as optimism over reopening of countries and signs of more stimulus for the coronavirus-hit euro zone economy helped sentiment.
Trading volumes were lower across the board with the U.S., UK and some countries in Asia closed for holidays.
French authorities reported the smallest daily rise in new coronavirus cases and deaths on Sunday, while Spain is set to reopen international tourism from July, Prime Minister Pedro Sanchez said over the weekend. “The main theme in the market is that the global economy is steadily reopening like floodgates slowly lifting,” Sebastien Galy, macro strategist at Nordea Asset Management said.
All eyes will turn to the European Commission’s recovery plan on Wednesday after EU member states Austria, Sweden, Denmark and the Netherlands stated their opposition to a French-German plan for a 500-billion euros coronavirus recovery fund.
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