Investing.com - European shares surged Monday, as manufacturing expanded more than forecast in China and the U.S.
At the close European trade, the EURO STOXX 50 gained 0.96%, France's CAC 40 added 1.14%, while Germany’s DAX traded higher by 1.58%. Meanwhile, in the U.K. the FTSE 100 surged 1.85%.
Sparking the equity rally, manufacturing in the U.S. expanded more than forecast in March. The ISM factory index advanced from 52.4 in February to 53.4 in March.
Economists had forecasted an increase to 53 thus the enthusiastic buying as the number was beat.
Adding to the bullish sentiment, China’s Purchasing Manager’s Index climbed to 53.1 in March from 51 in February.
However, in bearish news, A PMI from HSBC and Markit Economics dropped to a four month low of 48.3 indicating contracting manufacturing and exports.
In addition, Germany’s central bank stated last week that it will not accept bank bonds guaranteed by Greece and Portugal increasing concerns of continued trouble despite progress.
Oriflame advanced 2.6%, as the home party cosmetic retailer, gained from Coty’s offer to purchase Avon.
Peugeot gave back 3.3% as registration of autos plunged 22% in March.
Novo Nordisk gained 5.6% after stating it will meet a 2014 target date for its obesity medication.
U.S. stocks are sharply higher with the Dow up 0.55%, the S&P 500 higher by 0.85 and the Nasdaq ahead by 0.85.
Traders are awaiting the Australian interest rate decision, U.K. construction numbers, U.S. factory orders, as well as the minutes from the Federal Reserve’s policy meeting on Tuesday.
At the close European trade, the EURO STOXX 50 gained 0.96%, France's CAC 40 added 1.14%, while Germany’s DAX traded higher by 1.58%. Meanwhile, in the U.K. the FTSE 100 surged 1.85%.
Sparking the equity rally, manufacturing in the U.S. expanded more than forecast in March. The ISM factory index advanced from 52.4 in February to 53.4 in March.
Economists had forecasted an increase to 53 thus the enthusiastic buying as the number was beat.
Adding to the bullish sentiment, China’s Purchasing Manager’s Index climbed to 53.1 in March from 51 in February.
However, in bearish news, A PMI from HSBC and Markit Economics dropped to a four month low of 48.3 indicating contracting manufacturing and exports.
In addition, Germany’s central bank stated last week that it will not accept bank bonds guaranteed by Greece and Portugal increasing concerns of continued trouble despite progress.
Oriflame advanced 2.6%, as the home party cosmetic retailer, gained from Coty’s offer to purchase Avon.
Peugeot gave back 3.3% as registration of autos plunged 22% in March.
Novo Nordisk gained 5.6% after stating it will meet a 2014 target date for its obesity medication.
U.S. stocks are sharply higher with the Dow up 0.55%, the S&P 500 higher by 0.85 and the Nasdaq ahead by 0.85.
Traders are awaiting the Australian interest rate decision, U.K. construction numbers, U.S. factory orders, as well as the minutes from the Federal Reserve’s policy meeting on Tuesday.