European Stocks at an Unprecedented Peak Supported by The Auto Sector

European stocks rose on Monday, extending their rise to unprecedented levels, as optimism about a strong start to the business results season offsets worries about a return to the global incidence of COVID-19 cases.

The pan-European STOXX 600 index rose 0.1%, the fifth consecutive session of gains, while a euro-zone index gained 0.2%, touching its highest level since September 2000.

Automakers were the biggest gainers, increasing by 0.7%, followed by mining and travel stocks.

French auto parts maker Vorsia advanced 1% after its sales in the first quarter of the year exceeded expectations, supporting strong growth in China in particular.