European stocks advanced on Tuesday morning as investors monitor global recovery prospects and a fresh round of corporate earnings.
the pan-European Stoxx 600 added 0.4% in early trade, with basic resources climbing 1.4% to lead gains as all sectors and major bourses entered positive territory.
The broadly positive start to the trading session in Europe bucked the trend seen in the U.S. and Asia Pacific, where stocks were mixed in Tuesday morning trade with major markets in Japan and China still closed for holidays.
Meanwhile, U.S. stock futures were flat in premarket trading on Tuesday after a strong start to May as investors piled into shares that would benefit the most from an economic reopening.
Investors also continued to monitor the Covid-19 situation in India as it shows little signs of slowing. The World Health Organization said last week that one in every three new coronavirus cases globally is being reported in India.
In the U.S., states continued to relax pandemic restrictions amid the vaccine rollout. New York Gov. Andrew Cuomo announced that most capacity restrictions will be lifted across New York, New Jersey and Connecticut, while 24-hour subway service will resume in New York City later this month.
Russia’s central bank announces its latest interest rate decision later on Tuesday.
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– CNBC’s Yun Li contributed to this market report.