European stocks advanced Monday morning as global markets are calmed by reports of President Trump's improving health as he's treated for Covid-19.
The pan-European Stoxx 600 climbed 0.6% by late morning, with travel and leisure stocks jumping 2.1% to lead gains as all sectors except utilities traded in positive territory.
European markets are following their counterparts in the U.S. and Asia-Pacific higher Monday as political uncertainty following Trump's Covid-19 diagnosis eases.
In overnight trading on Sunday, U.S. stock futures on the Dow Jones Industrial Average climbed about 170 points, while the S&P 500 futures and the Nasdaq 100 futures both rose.
Trump said in a minute-long video posted on Twitter late Sunday that "we are getting great reports from the doctors." The president also took a short, last-minute motorcade ride to wave to his supporters standing outside the hospital.
Nonetheless, the president's doctors said they had begun treating him with dexamethasone, a steroid recommended for severe cases of Covid-19. The president was said to have experienced two drops in his oxygen levels since his diagnosis announcement just before 1 a.m. ET on Friday.
Oil prices also saw a strong rebound during Monday trade, up around 3.6% by late morning in Europe, following a drop on Friday.
In terms of individual share price moves, British engineering firm Weir Group rallied more than 17% in early trade after the sale of its oil and gas division, while gold miner Centamin saw its London-listed shares slide 3.7% to extend Friday's losses after warning of a hit to production.
- CNBC's Eustance Huang, Yun Li and Tucker Higgins contributed to this market report.
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October 05, 2020 at 12:10PM
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European markets climb as investors track reports of Trump's improving health - CNBC
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