The death toll from the coronavirus outbreak in Italy has jumped by 133 to 366, by far the largest daily rise in fatalities there since the outbreak came to light last month.

Key points: Most of Italy's deaths and cases have occurred in the northern region of Lombardy

Most of Italy's deaths and cases have occurred in the northern region of Lombardy 16 million Italians are now in lockdown

16 million Italians are now in lockdown The country has more coronavirus cases than South Korea

Italian authorities said the total number of cases leapt from 5,883 to 7,375 on Saturday (local time), another record jump.

Italy has overtaken South Korea to have the highest number of recorded coronavirus cases outside China.

China has more than 80,000 cases.

Angelo Borrelli, the head of the nation's Civil Protection Agency, said of those originally infected, 622 had fully recovered, compared to 589 the day before.

Most of Italy's deaths and infections have occurred in Lombardy, a populous northern region which the Government has placed under lockdown until April 3.

About 16 million Italians are now in lockdown across 15 northern provinces, with schools, gyms, museums, nightclubs and other public spaces closed.

The Italian stock exchange, based in Milan, will open as usual on Monday (local time), but traders are expecting a wild start to the week.

With the most economically productive part of the country in virtual quarantine and no signs of the outbreak easing, traders are bracing for volatility in the markets.

The Milan stock exchange will open as usual today, but traders are expecting a wild start to the week. ( AP: Luca Bruno )

In France, authorities are banning gatherings of more than 1,000 people in a bit to limit the spread of coronavirus.

They are also recruiting medical students and recently retired medical professionals to help deal with growing number of infected people.

The country had reported 1,126 cases as of Sunday (local time), up 19 per cent from the day before.

France has the second highest number of cases in Europe after Italy. So far, 19 people there have died.

Reuters/AP