European stocks off to a flying start, EU Summit eyed

The stocks on the European bourses opened on a higher note, staging a so-called relief rally after the recent downward spiral on Brexit. The European equities rebounded sharply higher as investors resorted to profit-taking ahead of the EU (Brexit) Summit due later today, with the UK PM Cameron expected to make a speech on the Brexit vote.    

Germany's DAX 30 index rallied 2.34% to 9,485 in opening trades, while the UK's FTSE 100 index rose +2.12% to 6,109.

Among the other indices, the French CAC 40 index bounced +2.40% to 4,079, while the pan-European Euro Stoxx 50 index rocketed 2.46% to 2,763.

Looking ahead, ECB President Mario Draghi is set to speak later in the day, ahead of the US final GDP and consumer confidence data release.