Automakers, banks lift European stocks on recovery bets

Globally, corporate capital expenditure, or capex, will jump by 13% this year, according to S&P Global Ratings, with growth in all regions and broad sectors — especially in semiconductors, retail, software and transportation.

Economists at Morgan Stanley forecast that global investment will reach 115% and 121% of pre-recession levels by the end of 2021 and end of 2022, a much faster recovery than previous downturns.