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European markets close higher on upbeat manufacturing data; Ocado up 8%

European stocks closed higher on Monday as promising manufacturing data out of the euro zone and China boosted sentiment.

The pan-European Stoxx 600 closed up by 1.6% provisionally. Oil and gas stocks jumped 3.6% to lead gains as all sectors — with the exception of travel and leisure — and major bourses entered positive territory.

In overnight trading in Asia-Pacific, stocks mostly rose as a private survey showed China’s manufacturing activity grew for the sixth straight month in October. The Caixin/Markit Purchasing Managers’ Index (PMI) for Chinese manufacturing came in at 53.6 for October, higher than the 53.0 reading forecast by analysts in a Reuters poll.

October’s final manufacturing PMI data for the euro zone came in at 54.8, up from 53.7 in September and outstripping expectations. The upside surprise was driven in part by resurgent factory activity in Germany.

Market focus is also attuned to U.S. election uncertainty and the latest coronavirus developments. On Wall Street, stocks jumped on the first trading day of the month as markets tried to recover from a brutal week and month ahead of the U.S. presidential election.

Reference: CNBC