European stocks closed on high gains Monday amid Chinese manufacturing data

European stocks advanced the most in eight weeks as a bunch of Chinese manufacturing activity data exceeded economists’ estimates. U.S. index futures also rose while trading in US took a day off due to Labor day holiday.

The Stoxx Europe 600 Index added 1.9% to 302.94 at the close of trading, its biggest gain since July 4. The equity benchmark fell 2.4% last week to its lowest level since July 17 amid concern that the U.S. will take military action against Syria. Standard & Poor’s 500 Index futures climbed 1% today.

“A short-term lift in business-cycle indicators in China is dampening market skepticism short term, so risk appetite is revived as we are heading into a week of vital importance for the direction of equities,” Witold Bahrke, who helps oversee $55 billion as a senior strategist at PFA Pension A/S in Copenhagen, wrote in an e-mail for Bloomberg.

National benchmark indexes rose in every western-European market except Greece. The U.K.’s FTSE 100 rose 1.5%, while Germany’s DAX added 1.7% and France’s CAC 40 gained 1.8%. The number of shares trading hands today in Stoxx 600-listed companies was 15% lower than the average of the past 30 days, data compiled by Bloomberg showed.

Vodafone added 3.4% to 213.2 pence. The board of Verizon Communications will vote on the terms of the deal today, said the person who asked not to be identified because the details remain private. Europe’s largest mobile-phone operator confirmed yesterday that it has held advanced discussions with Verizon about selling its 45% stake in their joint venture for $130 billion.

Telecom Italia SpA, Italy’s biggest telephone company, added 3.9% to 55 euro cents. A gauge of telecommunications operators climbed 2.8%. BT Group Plc, the biggest fixed-line phone company in the U.K., increased 4% to 338.2 pence.

Havas SA soared 6% to 5.82 euros, its largest rally in 14 months. The French advertising company reported first-half profit of 58 million euros ($77 million), beating the average analyst estimate of 55.9 million euros.

Inmarsat Plc gained 5.4% to 732.5 pence. Morgan Stanley upgraded the world’s biggest supplier of maritime satellite services to overweight from equal weight, meaning that investors should hold more of the shares than are represented in benchmark indexes. Morgan Stanley said the outlook for the company’s core business has improved.