Key Points: Economies across the continent continue to lift lockdown restrictions, allowing more businesses to cautiously open.Investors are digesting comments from U.S. Federal Reserve Chairman Jerome Powell on Sunday, about the prospects for the U.S. economy to recover in the medium term.
European stocks opened sharply higher Monday as investor confidence rises cautiously with lockdown restrictions around the world being lifted.
The pan-European Stoxx 600 jumped 1.8% at the start of trading, with basic resources climbing 3.3% to lead gains as all sectors and major bourses entered positive territory.
Economies across the continent continue to lift lockdown restrictions, allowing more businesses to cautiously open. There is growing discontent among swathes of the public at the speed of the lifting of restrictions, however, with large-scale anti-lockdown protests seen in Germany this weekend.
Investors are digesting comments from U.S. Federal Reserve Chairman Jerome Powell on Sunday, about the prospects for the U.S. economy to recover in the medium term.
"In the long run and even in the medium run, you wouldn't want to bet against the American economy. The American economy will recover," Powell said in an interview with CBS' "60 Minutes" in an excerpt aired Sunday morning on "Face the Nation."
"Assuming there's not a second wave of the coronavirus, I think you'll see the economy recover steadily through the second half of the year," the central bank's chief said. However, he added that "for the economy to fully recover ... that may have to await the arrival of a vaccine."
Major markets in Asia were little changed in Monday afternoon trade following the comments from Powell. However, oil prices rose in the afternoon of Asian trading hours on expectations of demand pickup and supply cuts.
Earnings come from Ryanair and Telecom Italia on Monday, while there are no major European data releases.
原文地址：https://www.cnbc.com/2020/05/18/european-markets-positive-as-lockdown-lifting-continues.html