European stocks gain as U.S. President Trump show signs of recovery

05.10.2020 - Petr Mazaylo
European stocks gain as U.S. President Trump show signs of recovery

European stocks gained on Monday, following upbeat global mood after positive updates on U.S. President Donald Trump’s health.

The pan-European STOXX 600 index traded 0.6% higher, continuing last week’s near-2% gain. Sectors including travel and leisure, banks, and automakers also saw a climb.

Oil and gas also saw a climb with major oil producers such as Royal Dutch Shell, BP and Total gaining by nearly 2%, despite an escalating workers’ strike in Norway, Western Europe’s largest oil producer.

However, IHS Markit’s final composite Purchasing Managers’ Index fell to 50.4 in September from August’s 51.9, close to the 50-mark separating growth from contraction.

Trump’s doctors have reported that his health is improving and could be sent back to the White House as soon as Monday, though some warn that his case could be severe.

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