Global stocks resumed an autumn rally, while bonds retreated as firmer factory data in Europe and the U.S. countered a slowdown in China.

U.S. stocks joined gains in overseas equities, with health-care sector deals adding to optimism after factory data in Europe and America topped estimates. The unexpected acceleration in output damped demand for government bonds. Oil led commodities lower as Chinese manufacturing contracted.

The Standard & Poor’s 500 Index climbed 0.7 percent at 11:57 a.m. in New York. The gauge rallied 8.3 percent in October for the best performance in four years, though equities ended the month on a two-day slide.

Corporate deal activity helped boost health-care companies as Dyax Corp. jumped 32 percent after Shire Plc agreed to buy the drugmaker for at least $5.9 billion. Mylan NV and AbbVie Inc. rose more than 4 percent. Pfizer Inc. climbed 2 percent as people with knowledge of the matter said the company is making progress in talks to buy Allergan Plc.

Source: Bloomberg