May 4 (Reuters) – Economy-sensitive sectors such as mining, travel and energy boosted gains in European stocks on Tuesday, with the UK market performing prominently after a prolonged weekend due to the bank holiday. Monday.
The pan-European STOXX 600 index was up 0.4% in early trading, while the German DAX was up 0.2% and the British FTSE 100 was up 0.8%.
The travel and leisure sector gained 1.3% and was the fastest growing in Europe, benefiting from the expected announcement by the United Kingdom of a “green list” of countries allowed to travel on holidays.
The mining and oil and gas sectors were also up more than 1% as investors bet on a strong global rebound thanks to mass vaccination programs in developed countries and unprecedented stimulus.
Tech stocks were struggling after their Wall Street counterparts came under pressure on Monday.
Dassault Aviation soared 5.2% after Egypt’s Defense Ministry said it had signed a contract with France to buy 30 Rafale fighter jets.
(Information from Sruthi Shankar in Bengaluru; edited by Anil D’Silva; translated by Flora Gómez in the Gdansk newsroom)