European Stocks Track Gains in Asia

European stocks rose Monday, tracking gains in Asia fueled by optimism about the recovery of the Chinese economy, while investors remain cautious about the rise in domestic infections with the Corona virus.

The pan-European STOXX 600 index rose 0.3%, while the telecom and automobile sectors led the gains.

The benchmark closed on Friday, posting gains for the second week in a row thanks to bets on more stimulus in the United States and growing expectations for a Democratic victory in the US presidential election.

But today’s gains were capped by a jump in COVID-19 cases, raising the specter of more lockdown measures. British Prime Minister Boris Johnson is expected to announce new measures today, as Italy prepares to impose new restrictions nationwide.

Britain’s FTSE 100 index fell 0.1%, while the Italian stock exchange added 0.2%.