(Reuters) – European shares rose on Monday, with cyclical sectors leading gains as investors hoped the upcoming earnings season will feed into signs of an economic recovery from the coronavirus-induced downturn.
The pan-European STOXX <.stoxx> index rose 0.8% by 0720 GMT, with banks <.sx7p>, automakers <.sxap> and oil & gas <.sxep> rising between 1.2% and 2.0%.
Miners <.sxpp> gained 2.0% on optimism over China’s recovery and surging metal prices. [.SS] [MET/L]
Global investor sentiment also brightened at the start of a week that kicks off the U.S. and European quarterly earnings season and includes a summit over the European Union recovery fund and a European Central Bank policy meeting.
Finnish valves maker Neles
Nordic bank DNB
(Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)