Global stock markets diverged Monday despite fresh major AI deals boosting the tech sector.

Trading on the first business day in November began on the front foot after an upbeat end to October that saw easing China-US tensions, a cut to US interest rates and healthy earnings from market darlings including technology giant Amazon.

"Tech and AI remain a huge theme for investors as we move into the final months of the year," said Kathleen Brooks, research director at trading group XTB.

However early gains in Europe and Wall Street faded.

Data showed economic activity in the US manufacturing sector contracted at a faster rate in October, when analysts had been expecting it to stabilise or even expand.

Nevertheless the tech-heavy Nasdaq Composite was still higher in late morning trading th

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