European markets closed higher Monday as investors focused on the prospect of economic recovery and progress on potential coronavirus drugs, shrugging off concerns about a further acceleration of the pandemic.
The pan-European Stoxx 600 provisionally closed almost 1.6% higher, with banks jumping 3.9% to lead gains as all sectors and major bourses entered positive territory.
The European Commission said Friday that conditional approval had been granted for Gilead™s antiviral drug remdesivir to be used in the EU, making it the first authorized treatment for the virus in the region. The Sunday Times newspaper then reported that the U.K. is closing in on a £500 million ($624 million) supply deal with Sanofi and GlaxoSmithKline for 60 million doses of a potential vaccine.
Source: CNBC
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