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June 29 (Reuters) – European stocks rose on Monday as investors clung to hopes of a faster economic recovery on the continent, even as coronavirus cases rose worldwide.
The pan-European STOXX 600 index rose 0.2% after opening in the red, driven by automakers and travel and leisure companies.
European markets have outperformed in recent weeks, helped by their relative success in reopening their economy and the recovery fund proposed by the European Union of 750 billion euros ($ 841.73 billion).
However, Asian markets were in a weaker position as the global death toll from COVID-19 reached half a million people on Sunday, according to a Reuters count.
German scandal payments company Wirecard increased 93.6% after saying it would continue business after filing for bankruptcy.
Austrian sensor producer AMS increased 6.6% after Reuters reported that the company is poised to get the go-ahead from the European Union for its acquisition of the German lighting group Osram. (Report from Sruthi Shankar in Bangalore; Saumyadeb Chakrabarty Edition)
