(Reuters) – European stocks rose on Monday, with UK markets posting sharp gains after the government outlined plans to gradually ease the lockdown, while shares in Germany’s Wirecard jumped after it revamped its management board.
The pan-European STOXX 600 <.stoxx> rose 0.5% by 0718 GMT, adding to slim gains made so far in May.
Britain’s FTSE 100 <.ftse> rose 0.8% after Prime Minister Boris Johnson said on Sunday the lockdown would not end yet but encouraged some people to return to work.
France is also set to cautiously lift coronavirus-induced restrictions. However, Germany saw a spike in cases just days after its leaders eased the lockdown.
Germany’s DAX <.gdaxi> still rose as payments company Wirecard
Italian shares <.ftmib> gained 1.2% in relief that Moody’s spared the country of a rating downgrade on Friday, but DBRS Morningstar cut Italy’s trend to “negative” from “stable”, citing uncertainty over the economic repercussions stemming from the outbreak.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D’Silva)
