Stock markets have begun March in bullish mood, with strong gains on both sides of the Atlantic.

Shares jumped as bond market jitters eased, a new US stimulus package approached, and regulators in America approved J&J’s single-shot Covid-19 jab.

In London, the FTSE 100 closed 105 points higher at 6588, a gain of 1.6%, recovering more than half of Friday’s slump. Travel companies led the rally, along with housebuilders on predictions of a new mortgage guarantee scheme.

European markets had their best day in four months, while in New York the S&P 500 has jumped over 2%, and could notch up its best day in nine months….

In the bond market, the 10-year US Treasury bond has been trading calmly at a yield of around 1.45% – down on the 1.6% it spiked to last week.

On the economic front, UK factories reported a jump in supply chain problems last month as the Brexit deal and the Covid-19 pandemic caused disruption.

US manufacturers also flagged up problems getting raw materials, as the economic recovery, transport problems, and the global shortage of semiconductors all led to headaches.

In Europe, though, factory growth hit a three-year high.

Inflation in Germany has pushed up, and economists reckon it will keep rising this year.

The Bank of England reported a slump in consumer borrowing during January’s lockdown, and a small drop in mortgage approvals too.

Here are the rest of today’s stories:

Goodnight. GW