Stocks in Europe rally on economic optimism

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European stocks, U.S. futures climb as economic hopes offset Covid-19 spread

London-listed shares of HSBC Holdings HSBA, +5.94% and Standard Chartered STAN, +5.10% jumped, responding to the big rally in Asian stocks.

The German DAX DAX, +2.05% , French CAC 40 PX1, +1.96% and the U.K. FTSE UKX, +2.22% all advanced by around 2%. Markets continue to advance on signals of an economic recovery. Nonfarm payrolls expanded by 4.8 million in June, the U.S. Labor Department said last week. Germany on Monday reported a 10.4% gain new manufacturing orders for May, which nonetheless was 29.3% lower than a year ago.

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