European shares rose for the first time in three sessions on Monday, bouncing from a Wall Street-led rout in technology stocks in the previous week as investors focused on economic green shoots and COVID-19 vaccine developments, Reuters reported. The STOXX 600 index was 1.7% higher, with Frankfurt shares rising 2%. Autos led sectoral gains in Europe after analysts at JP Morgan said the overall tone for production outlook in the European autos sector was "upbeat", following their meetings with industry leaders. Insurers and financial services sub-indexes climbed in early trading, while telecoms rose the least, suggesting a risk-on mood. The STOXX 600 has remained stuck in a tight range since June, as a euro zone economic recovery appeared to be losing steam.
