European stocks rebound on back of stimulus measures

European markets traded sharply higher Monday as investor sentiment was boosted by promises of a coordinated global monetary policy response to mitigate the economic impact of the coronavirus outbreak.

The pan-European Stoxx 600 climbed 1.8% in early trade, with oil and gas stocks surging 2.9% to lead gains as all sectors and major bourses traded in positive territory.

Global stock markets saw heavy losses last week, experiencing the worst declines since the 2008 financial crisis but looked set to attempt to rebound this week from those lows.

tish insurer Hiscox gained 8.1% after reporting that it had received only small claims related to the coronavirus, while Belgian pharmaceutical company Galapagos added.6.7%

Mobile operator SES fell 10.3% to the bottom of the European benchmark after its 2019 full-year earnings report.