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Europe: Shares inch higher, Wirecard surges

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[BENGALURU] European shares edged higher on Monday as investors clung to hopes of a quicker economic recovery in the continent even as coronavirus cases surged globally.

The pan-European Stoxx 600 index rose 0.2 per cent after opening in the red, lifted by automakers and travel and leisure companies.

European markets have outperformed in the recent weeks, helped by its relative success in reopening its economy and the European Union's proposed 750 billion euro (S$1.17 trillion) recovery fund.

However, Asian markets were on a weaker footing as the global death toll from Covid-19 reached half a million people on Sunday, according to a Reuters tally.

German scandal-hit payments company Wirecard surged 93.6 per cent after saying it would proceed with business activities after filing for insolvency.

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Austrian sensor producer AMS jumped 6.6 per cent after Reuters reported the company is poised to get the go-ahead from the European Union for its acquisition of German lighting group Osram.

REUTERS

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