With the pan-European STOXX 600 index rising by 0.6 percent to its highest since March 11, European stock markets opened stronger.
Analysts said the threat of a much deeper and prolonged downturn was beginning to dissipate as new cases of coronavirus declined in major economies, with a raft of monetary and fiscal stimulus taking effect worldwide.
Spanish shares. IBEX gained 1.5% as some businesses reopened, although shops, bars and public spaces were scheduled to remain closed until April 26 at least. [.EU] [...]
"While further slowdown in the spread of the pandemic may sustain sentiment, we are still reluctant to trust a long-lasting recovery, and we prefer taking things day by day," said Charalambos Pissouros, JFD Group analyst.
Data showing China's exports fell just 6.6 percent from a year ago in March, less than the expected 14 percent plunge, boosted market sentiment. Imports fell by 0.9 per cent compared to a 9.5 percent drop in expectations.
The gains in Europe took up 0.5 percent from the All Country World Index of MIWD00000PUS, which tracks shares in 49 countries.
Chinese shares increased by 1.2 percent with the. CSI300 blue-chip index. Australian shares increased by 1.7% and Japan's Nikkei. N225 increased by 2.8%. Hong Kong's Hang Seng. HSI increased by 0.9%.
MSCI's largest Asia-Pacific share index excluding Japan. MIAPJ0000PUS rose 1.3% to its peak in a month, up 20% from a four-year low on March 19.
Investors are now watching for further trade signs to ease virus-related restrictions in some regions.
Thousands of shops across Austria are set to open again in Europe on Tuesday. Since early March, Spain has recorded its smallest proportional daily increase in the number of deaths and new infections and let some businesses return to work Monday.
In the U.S., which has recorded the world's highest number of casualties from the virus, President Donald Trump said his administration was close to completing a plan to reopen the U.S. economy Monday. Some state governors, however, say that their decision to restart business lies with them.
Indexes on Wall Street ended Monday mixed. The Dow and S&P 500 fell, but the Nasdaq ended higher with a 6.2 per cent gain in Amazon shares.
"The pullback in US equities should come as no surprise in view of the historic rally last week," said Mark Haefele, Chief Investment Officer at UBS Wealth Management, noting that the S&P 500 has posted its best weekly performance since 1974.
"Sentiment will zigzag until the formal measures for reopening the major economies are more clear. More broadly, while global markets have rebounded, it's hard to tell with any certainty whether the bottom has been reached.
After the U.S. oil prices rose about 1 per cent. Energy Information Administration (EIA) predicted that shale output would fall by a record amount in April at the world's largest crude producer, adding to cuts from other major producers.
U.S. crude CLc1 was 0.85 per cent higher at $22.55 a barrel compared to a peak of $63.27 in January. Brent LCOc1 rose 1.3 per cent to a barrel of $32.16.
Gold prices XAU= clung to highs not seen at $1,720.1 an ounce in more than seven years.
The dollar extended losses in currencies on U.S. back. The massive new lending programme, from the Federal Reserve. It weakened JPY= to 107.7 against Japanese yen. At $1,0929, the euro EUR= rose 0.2 per cent. Australia's risk-sensitive dollar AUD = D3 jumped from 0.6 per cent to $0.6420.