Economic activity in China earlier on Monday soared as it did at the start of the new year. The world’s second largest economy was recovering from the ravages of the COVID-19 pandemic, data showed.
In the months to come, strong growth figures are expected out of the U.S. This is after President Joe Biden signed the $1.9 trillion stimulus package into law in particular last week. Moreover, with the rollout of Covid-19 vaccinations proceeding in stride.
On Monday, European stock markets were higher, starting the week on a positive note. This came after data showed strong Chinese growth and before a key Federal Reserve meeting.
Among the top gainers were travel and leisure, automakers, and food & beverage sectors.
Furthermore, Danone stock rose 4.7%. The French food group announced that Emmanuel Faber would step down as chairman and CEO over activist pressure.
On Monday, Roche stock climbed 0.8% after the Swiss pharmaceutical giant announced plans to buy GenMarkDiagnostics. This is a $1.8 billion deal with the U.S.-based maker of molecular diagnostic tests.
AU Stocks Higher at the Close; S&P/ASX 200 up 0.09%
On Monday, Australian stocks were higher after the close. Leading shares higher were gains in the Gold, Healthcare, and A-REITs sectors.
The S&P/ASX 200 gained 0.09% at the close in Sydney.
The session’s best performers on the S&P/ASX 200 were Magellan Financial Group Ltd. They rose 4.90% or 2.12 points to trade at 45.39 at the close.
Moreover, Clinuvel Pharmaceuticals Ltd gained 4.35% or 1.10 points to end at 26.40. Omni Bridgeway Ltd was up 4.26% or 0.15 points to 3.67 in late trade.
The session’s worst performers were GWA Group Ltd. They fell 7.64% or 0.23 points to trade at 2.78 at the close.
Afterpay Touch Group Ltd lost 4.49% or 5.09 points to end at 108.33. AP Eagers Ltd fell 4.42% or 0.67 points to 14.50.
On the Sydney Stock Exchange, rising stocks exceeded falling ones by 722 to 620 and 326 ended unchanged.
A new 1-month low for the S&P/ASX 200 VIX, down 8.45% to 13.532.