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The pan-European STOXX 600 (STOXX) rose 0.8% by 0720 GMT, with travel & leisure (SXTP) and miners (SXPP) leading gains.
Market sentiment got a boost after U.S. biotech firm Moderna Inc’s (O:MRNA) experimental vaccine for COVID-19 showed it was safe and provoked immune responses in an ongoing early-stage study.
Hopes were high among investors heading into a EU summit later this week that leaders will agree on a recovery fund of 750 billion euros for pandemic-hammered economies.
Swedish telecom operator Tele2 AB (ST:TEL2b) jumped 4.1% as it reaffirmed its 2020 earnings outlook and plans for an extra shareholder payout.
Semiconductor equipment maker ASML Holding NV (AS:ASML) slipped 1.3% despite forecasting overall growth for 2020.
British fashion brand Burberry (L:BRBY) dropped 5.1% as it warned second-quarter revenue will remain impacted by the pandemic.
