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European stocks climbed in early action Monday on tentative signs the spread of coronavirus is slowing.
The Stoxx Europe 600 SXXP, +2.88% , which fell 0.6% last week, advanced 3.5%.
The German DAX DAX, +3.91% surged 3.9%, and big gains also were seen for the French CAC 40 PX1, +3.31% and U.K. FTSE 100 UKX, +2.51% .
Futures on the Dow Jones Industrial Average YM00, +4.14% surged 807 points.
The growth rate of new coronavirus cases and fatalities slowed over the weekend. In the U.S., the new-case growth tally slowed to 8.2% from 12.3%, and the fatality rate slowed in both Italy and Spain, according to data compiled by Deutsche Bank.
“With the spread of the virus appearing to slow down somewhat, at least in Europe and especially in Asia, risk appetite may improve slightly for the time being,” said Marc-André Fongern of Fongern Global Forex.
The hospitalization of U.K. Prime Minister Boris Johnson put pressure on the British pound GBPUSD, +0.30% , though 10 Downing Street called the overnight stay “precautionary.”
Rolls-Royce RR, +15.22% , the engine maker, shot up 17% after halting its dividend, pulling its financial guidance and announcing a new credit line worth £1.5 billion.
GVC Holdings GVC, +14.28% also rallied after halting its dividend, with the sports-gambling operator climbing 15%.
Crude-oil futures CL.1, -1.51% slipped as the Organization of Petroleum Exporting Countries and Russia have reportedly pushed back a meeting to cut production until Thursday.
