Global stocks surged on Monday, extending gains from their best quarter since 2010, as strong Chinese factory activity data and signs of progress in U.S.-China trade negotiations 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 percent. Germany’s trade-sensitive DAX outperformed with a 1 percent rise, helped by gains in auto maker stocks. [.EU]
MSCI’s All-Country World Index, which tracks shares in 47 countries, was up 0.4 percent on the day. It had just posted its best quarter since 2010. S&P 500 futures were up about 0.7 percent, indicating a higher open on Wall Street. [.N]
“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.
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