European stock markets surge at open

• "European markets traded higher again Friday as the first tentative signs of stabilisation are built," said Markets.com anlayst Neil Wilson.

LONDON: European stocks surged more than five percent in opening trade Friday as investors welcomed a vast global fightback against coronavirus fallout.

In initial deals, London's benchmark FTSE 100 index of major blue-chip companies rallied 5.2 percent to 5,418.35 points, Frankfurt's DAX leapt 6.5 percent to 9,171.48 and the Paris CAC 40 soared 5.5 percent to 4,068.45 points.

"European markets traded higher again Friday as the first tentative signs of stabilisation are built," said Markets.com anlayst Neil Wilson.

"The full extent of the economic damage remains unknown, yet markets tend to move ahead of the real world."

Asian equities also enjoyed some much-needed gains Friday after another volatile week as investors took solace in global efforts to fight COVID-19.