European stocks rebound sharply amid rally in commodities

The European markets staged a solid reversal over the last hour, swinging back sharply into positive territory as rallying commodities’ prices trigger a renewed risk-on wave into markets, boosting the demand for riskier assets such as equities.

Moreover, markets turn optimistic ahead of ECB president Draghi’s testimony due later in the NA session, especially after last week’s remarks from Draghi, citing that the bank is ready to act further, if required.

Meanwhile, Germany's DAX 30 index now jumps +0.40% to 10,703, while the UK's FTSE 100 index gains +0.47% to 6,806. Among the other indices, the French CAC 40 index rebounds +0.51% to 4,526 while the pan-European Euro Stoxx 50 index rises +0.30% to now trade around 3,035 points.