European markets closed sharply higher Monday as the rate of new coronavirus infections appeared to slow in the region.

The pan-European Stoxx 600 provisionally closed 3.75% higher at 320.58, with autos stocks climbing 9% to lead gains as all sectors and major bourses ended in positive territory.

Stocks were buoyed by data showing the rate of new coronavirus infections and deaths in the region was slowing.

Italy, which was the epicenter of Europe's pandemic before Spain overtook it in terms of the number of cases, reported its lowest daily COVID-19 death toll for more than two weeks on Sunday, Reuters noted.

Source : CNBC