Mining, travel stocks lift European shares on recovery bets

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 3, 2021. REUTERS/Staff

(Reuters) – Economically sensitive sectors, including miners, travel and energy, drove gains in European stocks on Tuesday, with British shares outperforming after a holiday-extended weekend.

The pan-European STOXX 600 index rose 0.4% in early trading, with the German DAX up 0.2% and UK’s FTSE 100 rising 0.8%.

Travel and leisure sector’s 1.3% gain was the most in Europe, benefiting from Britain’s expected announcement of a green list for countries that people can travel to on holidays.

Miners and oil and gas sectors also rose more than 1% as investors bet on a strong global rebound on the back of massive vaccination programmes in developed countries and unprecedented stimulus.

Tech stocks struggled after their Wall Street peers came under pressure on Monday.

Dassault Aviation jumped 5.2% after Egypt’s defence ministry said it had signed a contract with France to buy 30 Rafale fighter jets.

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