Global stock markets enjoyed a good day on Monday amid hope the global recession has done its worst.
A third consecutive month of Chinese manufacturing growth warmed the hearts of traders across Europe: London’s FTSE gained two percent, France’s CAC 40 climbed over three points and Frankfurt’s DAX outdid them all with a four percent jump. Mining and oil companies led the charge, followed by banks and car-makers who saw a silver lining to GM’s bankruptcy protection. A euro was buying just under 1.42 dollars and around 86 sterling pence. A barrel of Brent crude was fetching 65.50 dollars.