European shares open higher ahead of service-sector data

French drugmaker Sanofi and its British peer GSK rose as they started a clinical trial for a protein-based COVID-19 vaccine candidate.

European shares rose on Thursday amid signs of a global economic recovery and hopes of more stimulus measures, with eyes on local service-sector data that is likely to show sustained growth.

The pan-European STOXX 600 index rose 0.8% in early trade, tracking a strong session in Asia after a survey showed activity in China's service sector grew for a fourth straight month in August. Data from the euro zone is expected to show service-sector growth for a second straight month. But activity in Spain and Italy is expected to have contracted in August, as increased COVID-19 cases forced them to introduce new curbs.

In corporate news, Germany's Siemens Healthineers fell 5% after it issued 2.73 billion euros ($3.22 billion) worth of new shares to help finance its planned takeover of U.S. peer Varian. French drugmaker Sanofi and its British peer GSK rose as they started a clinical trial for a protein-based COVID-19 vaccine candidate.