(For a live blog on European stocks, type LIVE/ in an Eikon news window)
Aug 24 (Reuters) - European stocks bounced from a two-week low on Monday as signs of progress in developing a COVID-19 treatment offset fears about a resurgence in virus cases across the continent that could risk stifling an economic recovery.
The pan-European STOXX 600 index .STOXX rose 1.3% by 0713 GMT, mirroring gains for Asian markets after the U.S. health regulator said on Sunday it authorized the use of blood plasma from patients who have recovered from COVID-19 as a treatment. .SX8P , mining .SXPP and chemical .SX4P companies led the surge in early European trading, gaining more than 1.5%.
AstraZeneca Plc AZN.L was up 2.1% after the Financial Times reported the Trump administration was considering fast-tracking an experimental COVID-19 vaccine being developed by the company. gains come after a lacklustre week for European equities, which were pressured by data pointing to a stalling business recovery in the euro zone amid a surge in coronavirus cases.
British telecoms company BT Group BT.L jumped 6.1% to the top of STOXX 600 after a media report that its board was preparing to defend it against takeover approaches from rivals and buyout firms.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.