Shares gain on oil boost as economies reopen

After standing empty for two months, the Acropolis in Athens re-opened to visitors on Monday (May 18).

Greece just one of a number of countries taking steps to ease restrictions.

Shops, restaurants and hair salons began to reopen in Italy too, joining centres of the outbreak such as New York and Spain in trying to kick start economic activity.

Stock markets around the world welcomed the moves.

European shares bounced after their worst week in two months, as investors hoped for a gradual economic recovery.

The pan-European STOXX 600 rose 2% in early trade, with bourses in Frankfurt, Paris and London also up more than 2%.

German conglomerate Thyssenkrupp jumped 4.5% after a source told Reuters it was in talks with international peers about consolidating its loss-making steel business.

Asian shares also stepped ahead in Monday trade with oil prices hitting a five-week peak.

They climbed by more than $1 a barrel, supported signs of gradual demand recovery as well as output cuts.

Energy majors Total, BP and Royal Dutch Shell rose over 4%.

Data in Japan confirmed the world's third largest economy slipped into recession in the first quarter, putting it on course for its worst postwar slump.

Still, Tokyo's Nikkei rose around half a percent as signs of a slowdown in infections raised optimism that Japan would also ease more restrictions soon.