European stocks rise on US stimulus

European stocks rose on Monday, for the first time in 3 sessions, on improved investors' sentiment, but today's gains are being curbed after the US Treasury bond yields rose to a 13-month high.

The Stoxx Europe 600 index rose 0.9% as of 11:45 GMT, after closing lower by 0.8% on Friday, due to risk aversion.

The travel and leisure sector saw the largest losses in Europe today, with a drop of more than 2.0%, amid a broad selloff wave in the sector's companies.

The index gained 0.9% last week, and posted its first weekly gain in 3 weeks, after automakers shares rallied.

The banking sector saw the largest gains in Europe today, with a jump of more than 3%, thanks to hopes over the global economic recovery.

The US Senate officially passed the $1.9 trillion Covid-19 relief package on Saturday, within President Joe Biden's efforts to support the US economy.

The US House of Representatives will pass the bill later this week, and President Joe Biden will sign it before the current unemployment compensation program expires on March 14.

The 10-year US Treasury bond yields rose by 3% to extend gains for the fourth straight day, and hit a 13-months high at 1.622%. 

S&P 500 futures fell more than 0.5%, after the index closed higher by 1.9% on Friday.

Back to Europe, the Euro Stoxx 50 index rose 0.9%, France's CAC 40 rose 0.7%, and Germany DAX index rose 1.1%, the UK's FTSE 100 rose 0.2%.