(Reuters) - European stock markets gained for a fourth straight day on Thursday on hopes the coronavirus pandemic was close to peaking, with investor attention also focused on a meeting of European Union finance ministers to discuss an economic rescue package.
The pan-European STOXX 600 index (STOXX) was up 1.2% at 0702 GMT, with battered travel and leisure stocks (SXTP), autos (SXAP) and miners (SXPP) leading early gains.
The benchmark index has rebounded more than 5% this week and recouped about $1.7 trillion in market value since hitting an eight-year low in March but is still about 24% below its record high, as sweeping lockdown measures crush business activity and spark mass layoffs.
The number of U.S. jobless claims — the most timely data on economic health — likely totalled a staggering 15 million in the last three weeks, and economists expect U.S. job losses of up to 20 million in April. [nL1N2BW0WZ]
Meanwhile, European Union finance ministers are set to resume talks on a half-a-trillion euro economic support package on Thursday after failing to reach an agreement earlier this week. [nL8N2BW1A7]
Oil and gas stocks (SXEP) bounced 1.9% ahead of a meeting of the world's largest oil producers to discuss production cuts. [O/R]