European shares start week on firm footing, vaccine developments eyed

(Reuters) – European shares rebounded on Monday after a Wall Street-led rout in technology stocks kept global sentiment subdued in the previous week, with investors keeping a close watch on COVID-19 vaccine developments.

Australia expects to receive its first batches of a potential COVID-19 vaccine in January after a deal was struck with CSL (CSL.AX) to manufacture two vaccines – one developed by rival AstraZeneca (AZN.L) and Oxford University, and another in CSL’s own labs with the University of Queensland.

AstraZeneca rose 1.5%. The European healthcare sector index .SXDP jumped 0.9%.

The STOXX 600 index was 0.8% higher by 0709 GMT, with Frankfurt shares .GDAXI leading gains after rising 1%.

Shares of insurers .SXIP, banks .SX7P and automakers .SXAP climbed more than 1% in early trading.

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