(Reuters) – European shares extended gains in early trade on Tuesday after falling sharply last week as bank shares recovered and focus now shifts to more data and comments from central bank officials to gauge the trajectory of their monetary policy.
The pan-European index was up 0.6% as of 0707 GMT as most sectors traded higher, with travel and leisure leading the way, up 1.8%.
Shares of the region’s lenders added 1.4%, continuing to recover after falling 8% last week.
European shares posted their biggest weekly drop this year on Friday as President Emmanuel Macron called for early elections following the rout of his ruling center party in European Parliament elections.
The focus will now be on comments from central bankers around the world. At least six representatives of the US Federal Reserve and European Central Bank Vice President Luis de Guindos are scheduled to speak throughout the day.
Final eurozone inflation data for May and a survey of German economic sentiment due later in the day are also on the market’s radar.
Schneider Electric (EPA:) shares added 2.2% after Jefferies upgraded the French electrical and automation equipment maker’s stock to Buy from Hold.