European stocks opened sharply higher on Friday after a report that a drug developed by Gilead Sciences was showing effectiveness in treating the coronavirus.

The pan-European Stoxx 600 jumped 2.6% in early trade, with travel and leisure stocks surging 5.1% to lead gains as all sectors and major bourses entered positive territory.

Global stock markets are looking up after STAT news reported that a Chicago hospital treating coronavirus patients with Remdesivir in a trial were recovering rapidly from severe symptoms.

Meanwhile, countries around the world including the U.S. and Germany, Europe's largest economy, are beginning to implement plans to lift lockdown measures as the rate of new cases declines.

Source : CNBC