European stocks traded higher Thursday as global markets received a boost from news surrounding the development of a potential coronavirus vaccine.

The pan-European Stoxx 600 climbed 0.8% in early trade at 364.38, with banks jumping 2.6% to lead gains as all sectors and major bourses entered positive territory.

European stocks are tracking global markets higher, with investor sentiment getting a boost from news that a vaccine candidate being developed by Pfizer and BioNTech shows potential. An early-stage human trial of one of four potential coronavirus vaccines it’s developing showed the drug created neutralizing antibodies. The results, which were posted online, have yet to be reviewed by a medical journal.

Source : CNBC