European stocks rose to their highest level in the current rebound, on optimism over economies reopening in some parts of the world and hopes for a vaccine to fight the coronavirus.
The Stoxx Europe 600 Index rose 1.1% to its highest close since early March. Travel and leisure shares rallied, led by a 52% surge in TUI AG, after a report that Germany plans to lift transport warnings, adding to optimism about tourism restarting in Europe. The FTSE 100 Index gained 1.2%, while the more domestic-focused FTSE 250 Index climbed 3.3% as the U.K. market reopened after a holiday yesterday.
Stocks are rising after Japan ended its state of emergency everywhere in the country, while Britain’s government outlined plans to reopen outdoor markets and car showrooms starting June, followed by non-essential outlets later in the month. Adding to investor optimism, Novavax Inc. began human testing of its coronavirus