European stocks advance, looking to rebound from last week’s losses

European stocks were higher Monday morning as investors monitor progress on various coronavirus vaccines, with markets looking to recover from consecutive losses fueled by the tech sector at the end of last week.

The pan-European Stoxx 600 climbed 1.1% by late morning, with autos adding 2.3% to lead gains as all sectors and major bourses entered positive territory.

A gauge of global stocks last week notched its biggest weekly percentage decline in almost three months as a downturn for U.S. tech megastocks, which had fueled much of the country’s equity market recovery, weighed on sentiment.