European shares at one-month high

European shares rallied for a second straight day on Tuesday with investors focusing on early signs that the coronavirus pandemic may be easing.
After having risen as much as 3.3% during the day, the pan-European STOXX 600 index closed up 1.9%, at its highest level in nearly a month.
German shares led the charge, up 2.8%, while indexes in Spain and Italy both rose more than 2% on a slowdown in reported new infections in Italy, Spain and hard-hit parts of the United States.
"The latest news on the virus is in line with our central scenario in which the pandemic reaches a peak in Europe in early April and in the US by mid-April. That would permit suppression efforts to be relaxed starting in mid-May," said Mark Haefele, chief investment officer global wealth management, at UBS AG.
Travel and leisure stocks outperformed, driven by a whopping 49% surge in shares of Cineworld after it said it was in talks with lenders for its liquidity needs as the strict stay-at-home orders forced it to shut all its 787 cinemas across 10 countries.
The stock also topped the pan-region STOXX 600 benchmark.
The STOXX 600 index has gained more than 22% since hitting an eight-year low in March - technically marking a bull market - but remains 24% below its February record high, when the global spread of the coronavirus led to a virtual halt in business activity.
France's Thales on Tuesday became the latest big company to cut dividend and suspend profit forecasts, but it added a new 2 billion euro ($2.17 billion) credit facility to shore up liquidity. Its shares fell 0.6%.
German shares marked their highest since March 11, as data showed industry output in Europe's manufacturing powerhouse rose by a stronger-than-expected 0.3% in February, before the pandemic prompted sweeping lockdowns.