World shares lift after positive Chinese data on industrial firms
A strong reading of US first-quarter growth data last week is also playing its part
London — Global shares rose on Monday, aided by data showing profits at Chinese industrial firms grew for the first time in four months and a strong reading of US first-quarter growth data last week. The MSCI all-country world index of shares, which tracks stocks in 47 countries, was up 0.06% after the start of European trading. Most major European stock markets traded firmer, with the pan-European Stoxx 600 index up 0.1%. Spain's Ibex 35 index underperformed peers, however, down more than 0.5% after Prime Minister Pedro Sanchez overcame a challenge by right-wing nationalists in elections on Sunday. The elections had little immediate effect on the country's bond market. Shares in Italian banks got a boost and Italian government bonds rallied after S&P Global Ratings affirmed Italy's sovereign credit rating. Still nagged by uncertainty over the outlook for the global economy, investors were looking to a meeting of the US Federal Reserve this week and Chinese factory data for further ...
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