Chinese stocks have rallied to a five-year high after a survey suggested the nation was recovering from the economic blow of coronavirus.

Equity markets climbed after a strong US jobs report fuelled hopes that the world’s largest economy is on track for a recovery from the damage caused by the coronavirus pandemic despite a recent rollback in the easing of lockdowns.

US stocks rose on the first day of the third quarter as bullish investors took heart from cheering economic data and news of a potential coronavirus vaccine.

Wall Street stocks recorded the best quarter in more than two decades amid a broad rally in global financial markets ignited by a barrage of central bank stimulus and hopes of a forceful economic recovery.

Stock markets in the US and Europe finished higher on Monday as investors bought industrial and other cyclical stocks, on the hope that rising US coronavirus cases will be contained and the economy quickly rebound.

BP has agreed to sell its petrochemicals business to Ineos for $5bn, as chief executive Bernard Looney accelerates his efforts to sharpen the focus and strengthen the finances of the global energy company.

US stocks dropped on Friday after Texas and Florida rolled back reopening measures, raising fresh fears that the coronavirus would derail an economic recovery. Banks were among Wall Street’s sharpest fallers after the US Federal Reserve told them to limit shareholder payouts.

Financials led US markets to their third positive close in four days on Thursday as bank stocks were boosted by the easing of post-2008 crisis rules that will make it easier to invest in venture capital funds and free up capital set aside for derivatives.

Global markets dropped on Wednesday as rising US Covid-19 cases and new quarantine measures fuelled fears that the virus could derail an economic recovery.

Global stocks resumed their march higher on Tuesday as investors took heart that better-than-expected surveys on business sentiment indicated companies were emerging from the worst of the global lockdowns.

US stocks climbed and gold rose towards its highest level since 2012 as investors bet on more fiscal stimulus from central banks in response to the acceleration in new coronavirus infections.

US equities had a cautious end to the week as fresh optimism about the outlook for the economy was tempered by concerns over the rising number of coronavirus cases.

Global stocks drifted lower on Thursday over signs an economic recovery could be snarled by new measures to contain the virus in some jurisdictions.

Banks have rushed to borrow a record €1.3tn from the European Central Bank at deeply negative interest rates, in the latest monetary policy drive to boost liquidity in the eurozone’s coronavirus-stricken economy.

From a little known payments company in Germany, just 30 minutes ago:

Insurance market Lloyd’s of London and brewer Greene King have apologised for their roles in the transatlantic slave trade and offered financial support to charities promoting diversity and inclusion.

Stock markets in the US and Europe struggled to make headway on Wednesday, with investors divided whether to take heart from signs of an economic recovery or fear the impact of rising Covid-19 infections.

Wall Street rallied on expectations of new aid for the US economy from the federal government and central bank, as retail sales came back stronger than expected last month from their pandemic low.

The drop in oil demand caused by the coronavirus pandemic will endure throughout 2021 and even beyond, the International Energy Agency has said, mostly due to a slower recovery in air travel.

US stock markets staged a turnround on Monday, with prices rallying after the Federal Reserve said it would begin buying the debt of US companies to help support the economic recovery.

US stocks struggled on Friday to recover from a sharp global sell-off sparked by renewed fears over the impact of the coronavirus pandemic.

Stock markets in the US and Europe suffered their worst one-day falls since March as investors were rattled by the Federal Reserve’s dire assessment of US economic prospects and fresh concerns that a new wave of coronavirus infections was coming.

Wall Street gave a cool reaction to the Federal Reserve’s pledge to keep US interest rates at near zero at least until the end of 2022, with the tech-heavy Nasdaq Composite index closing at a record high above 10,000 points even as the wider equities market pared gains.

Casual dining company The Restaurant Group is to shut 125 of its underperforming restaurants in a significant cut to the size of its estate.

US and European shares fell on Tuesday as investors turned cautious on the rally that has wiped out this year’s losses for the Wall Street benchmark indices.