European, Asian stocks gain on hope for large US stimulus
European stocks rose on Tuesday on positive brokerage recommendations and gains in economically sensitive sectors due to hope for a larger US stimulus.
The pan-regional STOXX 600 index rose 0.2%, with oil and gas, travel and leisure and banking sectors leading the gains.
Major companies recorded gains due to rebound in crude prices on the hope of a drawdown in US crude oil stockpile.
“We are happy to see the accommodative stance from policymakers,” said Domenico Ghilotti, co-head of research team at brokerage Equita. “Europe is dealing effectively with the pandemic in terms of financial support.”