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European stocks advanced Thursday for a fourth straight session, on building enthusiasm over the reopenings of economies across the world.
The Stoxx Europe 600 SXXP, +0.94% climbed 1.1% in early trade and has climbed 3.9% over five days.
The German DAX DAX, +0.60% rose 1%, the French CAC 40 PX1, +0.71% rose 1.1%, and the U.K. FTSE 100 UKX, +0.58% added 0.8%.
The gains come a day after the European Union proposed a 750 billion euro rescue fund made up of grants and loans, while European Central Bank President Christine Lagarde said the eurozone economy would contract by between 8% and 12% this year.
The Fed’s Beige Book reported growing pessimism by businesses over the economy. But stock markets aren’t sharing that view.
Shares of Cineworld Group CINE, +24.45% surged 29% in early London trade as the movie-chain operator said it negotiated a covenant waiver. Cineworld currently anticipates that government restrictions related to cinemas will be lifted in each of its territories by July but said it has sufficient headroom even in the unlikely event cinemas remain closed until the end of the year.
Shares of easyJet EZJ, +4.77% , the U.K.-headquartered low-frills airline, climbed 8% as it said bookings for the coming winter are ahead of last year’s as it made plans to cut up to 30% of staff.
Engine maker Rolls-Royce RR, -6.18% slumped 5%, however.
U.S. stock futures ES00, +0.03% rose ahead of the latest jobless claims figures and growing tensions between U.S. and China over the latter’s new national security law for Hong Kong.
