European stocks hit a near three-week high on Tuesday as automakers gained on a surge in China sales numbers, with hopes of a steady economic recovery from the coronavirus crisis boosting global sentiment.
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 6, 2020. REUTERS/Staff
Improving economic data in Europe, hopes of more stimulus and a vaccine for the COVID-19 have put the STOXX 600 on course for strong gains in August despite souring U.S.-China relations and uncertainty over the 2020 U.S. presidential election. Positive earnings also added to the mood, with German online fashion retailer Zalando SE rising 3.4% after reporting a more than doubling of sales on its site.
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