European markets traded higher Monday as investors await central bank meetings this week that could decide further stimulus measures to reboot economies deeply damaged by the coronavirus pandemic.
The pan-European Stoxx 600 climbed 1.5% in early deals, with banks adding 3.2% to lead gains as all sectors and major bourses entered positive territory.
Corporate earnings remain high on the trading agenda in Europe. Deutsche Bank shares surged 10.3% to lead the Stoxx 600 in early trade. The German lender on Sunday said it expects to report net income of 66 million euros ($71.56 million) for the first quarter of 2020, compared with 201 million euros in the first quarter of 2019.
Adidas on Monday predicted that sales will fall by 40% in the second quarter, as the impact of the coronavirus takes hold. The German sportswear giant on Monday reported a 19% decline in net sales for the first quarter from the year before. Adidas shares nonetheless advanced by 3.5% in early trade.
German pharmaceutical company Bayer saw its shares gain 3.3% after the coronavirus pandemic pushed its first-quarter sales and earnings higher.
