Global equities rally on rebound in Chinese factories
European stocks post their best daily gains since mid-February, with the pan-European Stoxx 600 index up while carmaker stock gains boosted Germany’s Dax
London — Global stocks surged higher on Monday, extending gains from their best quarter in nearly 10 years, as strong Chinese factory activity data and signs of progress in trade negotiations between the US and China gave investors reason to cheer. European stocks posted their best daily gains since mid-February, with the pan-European Stoxx 600 index up 0.8% in early deals. Germany’s trade-sensitive Dax outperformed with a 1% rise helped by gains in carmaker stocks. MSCI’s all-country world index, which tracks shares in 47 countries, was up 0.4% on the day. It had just posted its best quarter since 2010. “Investors’ sentiment seems to be tilting to the side of optimism at the beginning of the second quarter, following a robust manufacturing report from China,” said Konstantinos Anthis, head of research at ADSS. China’s official purchasing managers’ index (PMI) released on Sunday showed factory activity unexpectedly grew for the first time in four months in March. A private business ...
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