European Stocks Start the Week With Strong Performance

European stocks rebounded Monday (September 7th) after turmoil led by Wall Street on tech stocks kept sentiment tepid the previous week, as investors closely followed developments for a COVID-19 vaccine.

Australia is expected to receive its first batch of a COVID-19 vaccine in January after it entered into an agreement with CSL to manufacture two vaccines, one developed by rival AstraZeneca and the University of Oxford, and the other at CSL labs with the University of Queensland.

AstraZeneca rose 1.5%. The European healthcare sector jumped 0.9%.

The Stoxx600 index was up 0.8% by 07:09 GMT, while Frankfurt-listed stocks rose 1%.

Shares of insurance companies, banks and the auto industry rose more than 1% in early trade.