Nasdaq, Shanghai surge but Europe has “leg up” over other regions

Markets rose on Monday.

In the US, the S&P 500 rose 0.8 percent while the Nasdaq Composite surged 2.5 percent.

Elsewhere, the STOXX Europe 600 rose 0.8 percent while the Shanghai Composite surged 3.1 percent.

Markets were boosted by news that EU leaders have a framework agreement on a recovery fund to stimulate euro zone economies.

Indeed, BlackRock said Europe has a “leg up” over other regions, including the US and emerging markets, as the global economic reopening gathers pace.

“Europe’s health capabilities and containment measures position the region well for a domestic recovery,” global chief investment strategist Mike Pyle said.