European stocks closed higher on Wednesday as investors monitor the spread of the new coronavirus and fresh economic data.

The pan-European Stoxx 600 closed provisionally up by around 0.8%, having notched a fresh record high earlier in the session. Technology shares led the gains with a 1.4% jump as all sectors and major bourses traded in positive territory.

China’s National Health Commission said that as of Tuesday night, a total of 74,185 cases of the new coronavirus had been confirmed in the country and 2,004 people have died. A slight slowing of the rate of new cases has lifted investor sentiment, while markets are also monitoring China’s attempted return to production following a prolonged shutdown which has sparked fears over global supply

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