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European markets soared in their final 90 minutes of trading after the U.S. factory report was released. France’s CAC 40 rose 1.1 percent, London’s FTSE 100 gained 1.8 percent, and Germany’s DAX added 1.6 percent.

In corporate news:

• Avon Products Inc., which makes hair gel, makeup and watches, leaped 17 percent after the company rejected a $10 billion buyout offer from Coty Inc., a giant German perfume company.

Avon reported a fourth-quarter loss earlier this year and is in the hunt for a new CEO. The company has struggled as it attempts to put behind it an overseas bribery investigation that began in 2008.

• Express Scripts rose 2 percent after it completed its $29.1 billion acquisition of Medco Health, creating the country’s largest pharmacy benefits manager.