European stocks close higher on recovery hopes; GameStop jitters ebb; BP down 4.5%
European stocks closed higher on Tuesday amid investor optimism for a post-pandemic recovery, while fears over a speculative retail trading frenzy in the U.S. waned.
The pan-European Stoxx 600 ended Tuesday’s session up by 1.3%, with travel and leisure shares climbing 3.2% to lead gains as all sectors apart from basic resources and telecoms held in positive territory.
Globally, investors are keeping an eye out on further signs that economic recovery following the coronavirus pandemic is not too far away, as vaccination rollouts continue and new infections and fatalities start to slowly decline amid lockdowns.
Reference: CNBC
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