European markets gain as Germany plans to ease lockdown

European markets advanced on Thursday as investors digested the economic impact of the coronavirus on the global economy, and countries began plotting an exit from lockdown measures.

The pan-European Stoxx 600 was up 0.6 percent by early afternoon, paring back earlier gains, with tech stocks adding 2.4 percent to lead the move higher, while oil and gas shed 1.2 percent .

Data published Thursday showed that euro zone industrial production dipped by 0.1 percent month-on-month and 1.9 percent year-on-year in February, before coronavirus shutdown measures were imposed across the bloc.

In terms of individual share price action, Czech software company Avast and cinema operator Cineworld jumped 11.5 percent and 8.7 percent respectively, while CHR Hansen gained more than 10 percent after the Danish bioscience company beat second-quarter growth expectations.

At the other end of the European blue chip index, investment manager M&G fell percent and British business outsourcing giant Capita dropped 7.8 percent .