BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks rose sharply on Monday after Chinese markets soared on hopes the world's second-largest economy will lead a recovery from the coronavirus crisis. The Shanghai Composite Index jumped as much as 5.71 percent, marking the biggest advance since 2015.
Closer home, the benchmark DAX was up 183 points, or 1.47 percent, at 12,712 after losing 0.6 percent on Friday.
Automakers BMW, Daimler and Volkswagen rose around 3 percent on signs of a demand recovery in China.
Lender Commerzbank surged 6.7 percent after the sudden departure of its chairman and chief executive.
In economic releases, German factory orders rebounded on strong domestic and foreign demand in May as containment measures taken to curb the spread of coronavirus were relaxed, data from Destatis revealed.
Factory orders advanced 10.4 percent month-on-month in May, reversing a sharp revised 26.2 percent fall posted in April. Economists had forecast a monthly growth of 15 percent.
Germany's construction sector continued to contract in June led by ongoing weakness in new orders linked in part to the coronavirus, or Covid-19 pandemic, survey data from IHS Markit showed.
The construction Purchasing Managers' Index rose to 41.3 in June from 40.1 in May.
Eurozone investor confidence improved in July, survey results from the behavioral research firm Sentix showed. The investor confidence index improved to -18.2 in July from -24.8 in June.
In Germany, the investor sentiment index came in at -10.5 versus -17.2 in the previous month.
Copyright RTT News/dpa-AFX