Markets: stocks rally on data boost

Share markets surprised themselves on Monday (December 2) with a better-than-expected start to a new trading month.

The main reason: China.

Manufacturing there apparently enjoyed an unexpected rebound in November.

The purchasing managers' index - at 51.8 - marked the quickest expansion in almost two years.

Europe helped too.

France's PMI survey picked up at the fastest rate in five months.

And Germany wasn't quite as bad as expected.

For Frankfurt's Dax, that helped offset political worries - caused by new strains between its ruling parties.

Baader Bank's Robert Halver.


"The DAX is stable, which is surprising since the coalition is entering its next crisis. But what is important is that the Chinese attitude to their economy remains positive. Naturally, that's helpful for the German exports."

In morning trading, the pan-European STOXX 600 followed through on Asia's optimism by closing in on fresh-four year highs.

Dollar yen saw a six-month high ...

And oil - with an additional boost on hopes of another OPEC output cut this week - jumped above 61 dollar a barrel.

Sentiment around the UK was less buoyant.

Its PMI survey shows manufacturers cut jobs in November at the fastest rate since 2012 ...

As Brexit and a global trade slowdown caused the sector's longest decline since the financial crisis.