Scoreboard: Global buck-up

Markets hailed a rosier picture on both sides of the Atlantic, with a basket of cheery economic data triggering solid gains.

This was only about the second session in 10 that saw US stocks push higher, but we’re looking at the strongest gains in about three weeks. Maybe with the taper talk behind us punters could focus more squarely on the acceleration in the US activity – and certainly data out over the last 24 hours not only highlights that scenario but suggests global growth prospects are looking better as well. It started with the China manufacturing PMI re-entering the expansion zone, if only just (rising to 50.1 from 47.7). Now, while 50 isn’t great, it is a far cry from the dreary China downturn talk – it suggests instead that economic growth in China is, if anything, accelerating.

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