European stocks on the ascent after US jobs report
European stocks rose on Monday, but trading volumes were damped down by the closure of US markets following Independence Day on Sunday.
The region-wide Stoxx 600 was up 0.4 per cent, led by financials and energy groups, after falls in early trading. France’s Cac 40 rose by 0.3 per cent, while Germany’s Dax was up 0.1 per cent.
The FTSE 100 climbed 0.6 per cent after opening flat, also led by financials and energy groups, with companies such as Lloyds Banking Group, Anglo American and Glencore all seeing prices rise.
The non-farm payrolls data on Friday showed that the US labour market had added 850,000 new jobs in June, well above economists’ expectations and far higher than the revised 583,000 figure for May.
“After the labour report in the US, I think we have a bit of time to spend to dig deeper into the data,” said Luca Paolini, chief strategist at Pictet Asset Management.
“The real driver which can…