European markets close sharply higher on recovery hopes, despite backdrop of U.S. unrest; DAX up 3.8%

Tuesday, 2 June 2020 23:13 WIB

Indeks Stoxx Europe 600Saham Eropa


European stocks closed sharply higher Tuesday against a backdrop of unrest and violence in the U.S. as protests continue over the killing of George Floyd, an unarmed black man, in police custody last week.

The pan-European Stoxx 600 closed 1.5% higher provisionally as the reopening of economies and hopes for a global recovery continued to drive market sentiment. Auto stocks jumped 3.8% to lead gains as all sectors except health care remained in positive territory.

Germany’s DAX index was a significant driver of the gains in Europe, closing up by 3.8% and enjoying its best day for almost two months.

The positive momentum comes despite escalating developments in the U.S., after President Donald Trump threatened to deploy the military if states and cities failed to quell the demonstrations sparked by the killing of Floyd.

Source: CNBC


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