European stocks open higher as banking sector recovery continues

European stocks continued their gains in early trading on Tuesday, with banking stocks recovering, with focus now shifting to more expected data and statements from central bank officials in search of indicators about the course of monetary policy.

By 0707 GMT, the European STOXX 600 index rose 0.6%, with most sectors rising. The travel and entertainment sector index led the gains, jumping 1.8%.

The banking sector index in the region rose 1.4% and continued its recovery after declining 8% last week.

European stocks suffered their largest weekly loss since the beginning of this year on Friday after French President Emmanuel Macron called for early legislative elections following the defeat of his centrist party to the right-wing Marine Le Pen party in the European Parliament elections.

Traders are also awaiting a final reading of inflation in the euro zone in May and a German survey of economic sentiment later today.