European shares were on course for their biggest daily gain in eight weeks on Mo...
- European shares were on course for their biggest daily gain in eight weeks on Monday, as a surprise recovery in China’s factory data and signs of progress in Sino-U.S. trade talks boosted investor sentiment on the first trading day of second quarter.
While gains spread across all regional bourses, Germany’s trade-sensitive DAX outperformed with its 1.3 percent rise, helped by 3 percent jump in auto stocks which were set for their best daily surge since Jan. 4. Shares in Dialog Semiconductor Plc, Infineon Technologies, Ams AG and Siltronic AG and STMicroelectronics N.V. rose between 3 percent and 5 percent.
“The economic growth in China will strengthen from here and that is the strongest signal which is driving the markets today,” said Naeem Aslam, chief market analyst at TF Global Markets Ltd in London. Adding to the buoyant mood, China said over the weekend that it would continue to suspend additional tariffs on U.S. vehicles and auto parts after April 1, the latest sign of optimism as the world’s two largest economies work out a deal to end their trade dispute.
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