(Reuters) – The main European stock markets advance at the start of the session on Monday, buoyed by the enthusiasm which has won over the world markets since the publication on Friday of much stronger than expected data on employment in the United States.

In Paris, the CAC 40 gained 0.38% to 7,569.27 points around 07:15 GMT. In London, the FTSE 100 gained 0.30% and in Frankfurt, the Dax advanced 0.12%.

The EuroStoxx 50 index is up 0.27%, the FTSEurofirst 300 is up 0.31% and the Stoxx 600 is up 0.27%.

European stock markets are moving forward in the wake of a solid day in Asia after the publication, on Friday, of data considered encouraging on the health of the American job market.

“All of a sudden, the idea of ​​a kind of American economic exceptionalism is coming back into fashion,” and some traders even seem to doubt the possibility of the Federal Reserve cutting rates by a quarter point during its next two meetings, said Michael Brown, an analyst at Pepperstone.

“The jobs report highlighted a surprisingly strong situation, which should support consumer spending, and suggests a soft landing,” he added, although indicating to expect reductions of 50 basis points by the end of the year despite “the current sentiment frenzy”.

This Monday also marks the entry into the second year of the war in Gaza, as Israel struck Beirut again on Monday morning and markets are worried about a potential escalation in the Middle East.

In terms of values, Ubisoft gained 5.63% after publishing a press release indicating that it took note of recent press speculation concerning potential interests around its company, while rumors circulated Friday on discussions between the Guillemot family and the Chinese Tencent.

Rubis gains 2.49% after announcing the launch of a share buyback plan for an amount of 50 million euros.

(Written by Pauline Foret, edited by Augustin Turpin)

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