European stocks open higher, similar to global markets

European stocks opened with strong gains on Tuesday, as did markets in Asia and Wall Street as investors looked ahead to the outcome of peace talks between Moscow and Kiev in Turkey.

The pan-European Stoxx 600 index jumped eight percent, extending its gains for the third consecutive session, with the continued wave of selling in bonds.

Shares of travel companies and automakers led the gains. Banking shares rose 0.5 percent and were among the top on the pan-European Stoxx 600 index.

This comes as Ukrainian and Russian negotiators are preparing to meet in Turkey for the first direct talks between the two sides in more than two weeks after the Russian offensive appears to have faltered on several fronts. But hopes are limited that a breakthrough can be achieved.

Novo Nordisk Pharmaceuticals was among the biggest gainers, up 1.4 percent. The US Food and Drug Administration has approved a higher dose of the company’s Osmbek drug to treat patients with type 2 diabetes.

Shares of France’s Sanofi group fell 2.3 percent after the healthcare company raised its sales target of Dupixent to treat eczema to more than 13 billion euros ($14.3 billion).