European shares rise on possible easing of COVID-19 curbs, vaccine progress

  • Reuters
European shares rise on possible easing of COVID-19 curbs, vaccine progress
Credit: © Reuters.

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Nov 24 (Reuters) - European shares gained on Tuesday as a possible easing of lockdowns in France added to a brighter mood from encouraging developments related to coronavirus vaccines.

The pan-European STOXX 600 index .STOXX was up 0.8% at 0805 GMT, supported by gains in travel stocks .SXTP and the oil and gas sector .SXEP after global crude prices hit their highest levels since March.

France reported its lowest daily tally of COVID-19 infections since Sept. 28 on Monday, with investors now focused on a speech by President Emmanuel Macron later in the day when he may announce a relaxation of lockdown rules. country's benchmark CAC 40 .FCHI was up 0.9% in early trade.

Germany's DAX .GDAXI rose 0.9%, with exchange operator Deutsche Boerse DB1Gn.DE revealing that the blue-chip index will expand to 40 from the current 30 companies with tougher membership criteria. showed Germany, Europe's largest economy, grew by a record 8.5% in the third quarter, but the outlook remains clouded by a second wave of virus infections and a partial lockdown to slow the spread of the disease. company news, Phoenix Group Holdings PHNX.L fell 0.1% as the London-based insurer said it was assessing a range of strategic options for its European businesses.

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