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European equities climb for the fourth straight session with growing enthusiasm over reopening economies



European stocks advanced Thursday for a fourth straight session, to build enthusiasm for the reopening of economies worldwide.

Stoxx Europe 600
SXXP,
+ 1.12%

climbed 1.1% in early trading and has risen 3.9% in five days.

The German DAX
DAX,
+ 0.79%

rose 1%, the French CAC 40
PX1,
+ 1.00%

rose 1.1% and the UK FTSE 100
UKX,
+ 0.67%

Added 0.8%.

The gain comes a day after the European Union proposed a EUR 750 billion rescue fund consisting of grants and loans, while European Central Bank President Christine Lagarde said the euro area economy would decline by between 8% and 12% this year.

The Fed’s Beige Book reported growing pessimism from companies across the economy. But stock markets do not share that view.

Shares of Cineworld Group
CINE,
+ 24.22%

increased 29% in early trade in London, as the film chain operator said it was negotiating an exemption from the union. Cineworld currently expects government restrictions related to cinemas to be lifted in each of its territories in July, but said it will have enough space, although cinemas are unlikely to remain closed until the end of the year.

Parts of easyJet
EZJ,
+ 5.92%

, the US headquarters with low frills, climbed 8% as it said bookings for the upcoming winter are ahead of last year as it planned to cut up to 30% of staff.

Engine manufacturer Rolls-Royce
RR
-7.22%

however, fell 5%.

US stock futures
ES00,
+ 0.29%

rose ahead of the latest figures for unemployment claims and growing tensions between the US and China over the recent national security legislation for Hong Kong.


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