European stocks opened higher on Friday, looking to break a four-day losing streak after the World Health Organization (WHO) said the deadly Chinese coronavirus was not a “global emergency” yet.

The pan-European Stoxx 600 added 0.7% in early trade, basic resources rebounding 1.5% to lead gains as almost all sectors and major bourses entered positive territory.

Following a torrid week for stocks on the back of fears over the spread of the new coronavirus, which has killed 25 people in China and infected over 800 more, equity investors seem to be taking some heart from the WHO’s reluctance to declare the epidemic of international concern.

Source : CNBC