The euro bounded ahead by more than 1 per cent Monday and shares across Europe climbed as new data raised hopes about the global economic outlook. A strong opening on Wall Street also helped to shore up European stocks with the benchmark Stoxx 600 index 2.26 per cent higher at 266.84 as European trading came to an end after shares across the region rose to their highest levels more than four months, according to dpa. This also followed a solid performance by bank stocks after global regulators decided on Sunday to give major banks longer than expected to comply with new tough new capital rules. The Stoxx 600 index was up 2 per cent as European trading drew to a close. Meanwhile, the euro surged by 1.5 per cent in late trading to reach 1.2853 dollars. Europe's common currency has come under pressure in recent months in the wake of investor concerns about the impact of a slowing global economy on the ability of several European to meet hefty debt commitments as well as state of health of the region's banks But fresh figures point to the world economy continuing to turn in a positive performance despite expectations that it will slow in the coming months. Data from China released over the weekend showed the country's economy continuing to grow at a healthy clip with strong rises in both industrial production and retail sales. Added to this, the European Commission on Monday raised its 2010 growth outlook for the 16-member eurozone to 1.7 per cent this year compared with a previous forecast of 0.9 per cent.
