Global shares start second quarter with rally
US stocks started the second quarter with a bang on Monday, with the S&P 500 climbing to a fresh four-year high as manufacturing data from the United States and China helped support the outlook for economic growth.
The Dow Jones industrial average added 52.45 points, or 0.40 percent, to 13,264.49 at the close. The Standard & Poor's 500 Index rose 10.43 points, or 0.74 percent, to 1,418.90. The Nasdaq Composite Index gained 28.13 points, or 0.91 percent, to 3,119.70.
Upbeat manufacturing data from the United States and China helped European shares record their biggest daily gain in three weeks as leading indexes posted a bullish start to the second quarter.
The pan-European FTSEurofirst 300 index closed 1.5 percent higher at 1,085.04 points, sending a bullish technical signal as it powered through three resistance levels to close above the 50 percent retracement of the March 17-29 move.
Japan's Nikkei average snapped a three-day losing streak after the stronger-than-expected data from China eased worries of an abrupt economic slowdown, while buying by domestic investors provided support.The Nikkei closed 0.3 percent higher at 10,109.87 after losing 1.7 percent in the previous three sessions. The broader Topix index added 0.2 percent to 856.05.
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