European stocks rose at Tuesday's open after European Union negotiator Michel Barnier said a Brexit deal between the bloc and the U.K. is still possible this week.

The pan-European Stoxx 600 climbed 0.7% in early trade, with banks, retail and travel and leisure stocks surging more than 1% as all sectors and major bourses entered positive territory.

Speaking in Luxembourg ahead of a critical meeting between European leaders, which will likely decide the fate of Brexit, Barnier said: “Our team(s) are working hard, and work has just started now today, this work has been intense over the weekend and yesterday, because even if the agreement will be difficult, more and more difficult, to be frank, it is still possible this week.”

Source : CNBC