German sentiment survey boosts stocks, Europe focuses on recovery fund

Stocks gained modestly on Monday with many countries on holiday as German business morale rebounded strongly in May, offering a glimpse of optimism to battered investors of what lay beyond weeks of economic lockdowns. MSCI's gauge of world stocks gained 0.4%, nearing a 2-1/2 month high. With nervous investors wary of adding to their equity holdings over concerns on what a post-lockdown world would look like, Germany's Ifo institute survey for May gave some relief.

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