European stocks climbed higher Monday, with optimism regarding the global economic outlook continuing to prompt investors into pushing more cash into the equity asset class.

By 0805 GMT, the Dow Jones pan-European Stoxx 600 index was up 0.6% at 220.9. London’s FTSE 100 index was 0.2% higher at 4587.65, Frankfurt’s DAX index pushed up 0.8% to 5269.14 and the CAC-40 index in Paris up 0.7% at 3388.33.

This session’s rally follows several days of straight gains, with London’s
FTSE heading for its eleventh day of consecutive gains, its longest winning
streak for four years.

ING described the current optimism as “infectious” with analysts moving
recommendations in a positive direction and upgrading earnings forecasts. “This should underpin recent gains and is likely to add further fuel to the rally,” the brokerage said.

It noted that in March, earnings momentum was negative in all sectors, except health. Now half of all sectors are seeing upgrades, led by resources,
financials and technology.