PARIS (Reuters) – European stock markets advanced on Monday after encouraging employment data in the United States and reassuring developments in China.
In Paris, the CAC 40 gained 0.69% to 7,347 points around 07:25 GMT. In Frankfurt, the Dax rose 0.54%, against 0.62% for the FTSE in London.
The pan-European FTSEurofirst 300 index gained 0.62%, the EuroStoxx 50 0.76% and the Stoxx 600 0.68%.
US markets will be closed on Monday for Labor Day.
On Friday, US jobs data provided relief to investors, showing a moderate rise in the jobless rate that raised hopes of easing labor market tensions.
In fact, investors believe a pause in Federal Reserve rate hikes in September is 93% likely.
Elsewhere, Chinese developer Country Garden has been granted additional time to repay an offshore bond, while the Chinese government may introduce new measures to support the economy, according to information from Reuters.
In values, Thalès gained 1.77% after Jefferies raised its recommendation from “hold” to “buy”.
The commodities compartment posted the best sector performance of the Stoxx 600 index, gaining 1.25%, after developments in China.
(Written by Corentin Chapron, edited by Blandine Hénault)
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