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European stocks closed higher Monday at the start of another big week for corporate earnings, boosted by positive manufacturing data out of the euro zone.

The pan-European Stoxx 600 closed up by 2.2% provisionally, with autos jumping 3.8% to lead gains as all sectors advanced into positive territory. It marks a strong start to August after equities in the region closed out their first negative month since March.

Stocks swung higher after July’s final IHS Markit manufacturing PMI (purchasing managers’ index) reading showed manufacturing activity across the euro zone expanded for the first time since early 2019, as demand recovered following months of coronavirus-induced lockdown measures. The survey came in at 55.3, outstripping expectations and rising from 48.9 in June.

Reference: CNBC