European stocks opened sharply higher Monday as investor confidence rises cautiously with lockdown restrictions around the world being lifted.

The pan-European Stoxx 600 jumped 1.8% at the start of trading, with basic resources climbing 3.3% to lead gains as all sectors and major bourses entered positive territory.

Economies across the continent continue to lift lockdown restrictions, allowing more businesses to cautiously open. There is growing discontent among swathes of the public at the speed of the lifting of restrictions, however, with large-scale anti-lockdown protests seen in Germany this weekend.

Investors are digesting comments from U.S. Federal Reserve Chairman Jerome Powell on Sunday, about the prospects for the U.S. economy to recover in the medium term.

Source : CNBC