Europe’s stock markets finished the session at ten month highs on Monday due to signs that major world economies are coming out of recession.
The latest euro zone data showed industrial new orders rebounded more than expected in June – up 3.1 percent – compared with the previous month. In the US, economic activity improved again in July according to a report from the Federal Reserve Bank of Chicago. China’s latest economic data for July indicated that while growth was moderating after a strong second quarter, the recovery remained on track to achieve the Beijing government’s goal of eight percent growth for the full year. Around Europe banks were solid performers and higher metals and oil prices pushed up energy companies and miners.