European stocks trade higher as more restrictions are lifted

European stocks traded higher on Tuesday as investors take stock of the gradual opening of economies in Europe and beyond.

The pan-European Stoxx 600 climbed 1.4% by early afternoon, oil and gas stocks surging 5.2% to lead gains as all sectors and major bourses traded in positive territory.

European markets are paying close attention to coronavirus developments and the lifting of restrictions in many countries in the region, while keeping an eye on the data. More than 251,000 people around the world have died from Covid-19 and over 3.6 million people have been infected, according to data from Johns Hopkins University.