British shares rebounded on Monday, led by energy and mining stocks, as hopes of a vaccine-led economic recovery and more U.S. stimulus overshadowed fears of rising inflation and tightening monetary policy.
The S&P 500 surged on Monday in its strongest one-day gain since June as bond markets calmed after a month-long selloff, while another COVID-19 vaccine getting U.S. approval and fiscal stimulus bolstered expectations of a swift economic recovery.
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Global equities markets rose and the S&P 500 on Monday had its best day since June 5, with investors taking lower U.S. bond yields in stride on optimism over the $1.9 trillion coronavirus relief bill and distribution of Johnson & Johnson's newly authorized COVID-19 vaccine.
The Biden administration said on Monday it would consider carbon border adjustment taxes to help cut greenhouse gas emissions in global trade and to combat China's use of forced labor among Uighur Muslims in its western Xinjiang region.