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| - World stock markets rebounded Monday from last week's heavy selloff, as falling US Treasury yields soothed inflation concerns, dealers said. Wall Street stocks snapped higher at the open, with the Dow gaining 1.4 percent. The broader S&P 500 climbed 1.5 percent and tech-heavy Nasdaq Composite shot 1.7 percent higher. London equities jumped 1.2 percent in afternoon trade, while Frankfurt was up 1.0 percent and Paris added 1.3 percent. Asian stocks rose strongly on bargain-buying as the passage of President Joe Biden's $1.9-trillion Covid relief stimulus through Congress provided additional cheer. Oil prices climbed before this week's output meeting of the OPEC group of oil producers and their allies, while the dollar advanced versus the euro and yen. "Equity markets are showing strong gains as bond yields cool," said analyst David Madden at online trading firm CMC Markets UK. "Stocks came under pressure last week as a spike in government bond yields encouraged traders to trim their exposure to equity markets. "The prospect of higher inflation on the horizon has not disappeared but the fear of a higher cost of living is not having the same impact that it once had." Markets tumbled last week on fears that the recovering global economy, in tandem with vast US stimulus, could fuel inflationary pressures and spark interest rate hikes in the long run. In a bid to calm markets, several central banks -- including in Japan, South Korea and the European Union -- sought over the weekend to reiterate their pledges to maintain their ultra-loose monetary policies for as long as needed. Australia's led the way by ramping up its asset purchases to keep rates low. "It's a cookie-cutter rally effort in many respects," said analyst Patrick O'Hare at Briefing.com, with stocks having slumped last week as investors headed for the exits as yields shot higher. "This week, then, will start with an act of contrition as investors are feeling penitent for leaving the stock market," he added. News that Johnson & Johnson's one-shot vaccine had been given the green light by US regulators -- paving the way for a quicker rollout of vaccinations -- added to the positive sentiment on Monday. Oil prices also rebounded with focus on the key meeting of the OPEC+ group of major producers on Thursday, when they will discuss the huge output cuts that have provided much-needed support to prices. Russia is said to be keen to turn on the taps again but Saudi Arabia prefers to keep the status quo. London - FTSE 100: UP 1.2 percent at 6,561.76 points Frankfurt - DAX 30: UP 1.0 percent at 13,924.18 Paris - CAC 40: UP 1.3 percent at 5,777.35 EURO STOXX 50: UP 1.3 percent at 3,683.90 New York - Dow: UP 1.4 percent at 3,683.90 Tokyo - Nikkei 225: UP 2.4 percent at 29,663.50 (close) Hong Kong - Hang Seng: UP 1.6 percent at 29,452.57 (close) Shanghai - Composite: UP 1.2 percent at 3,551.40 (close) Euro/dollar: DOWN at $1.2054 from $1.2075 at 2200 GMT Pound/dollar: UP at $1.3935 from $1.3933 Euro/pound: DOWN at 86.51 pence from 86.66 pence Dollar/yen: UP at 106.61 yen from 106.57 yen Brent North Sea crude: UP 0.5 percent at $64.72 per barrel West Texas Intermediate: UP 0.1 percent at $61.58 per barrel burs-rl/lth/
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