LONDON – European markets advanced on Monday as traders continued to weigh the possibility of a cut in interest rates after weaker-than-expected US jobs data.
French CAC 40 German rose 0.2% Dax It also rose by 0.2% and Italian FTSE MIB indicator It rose by 0.5%. United kingdom FTSE 100 index It was closed on Monday for a public holiday and trading volumes are expected to be light.
The US nonfarm payrolls report on Friday showed 175,000 jobs added in April, fewer than the 240,000 jobs expected by economists surveyed by Dow Jones.
The unemployment rate rose to 3.9% from 3.8% the previous month, according to the Bureau of Labor Statistics. Wage numbers were also lower than expected, an encouraging sign for inflation.
In Europe, the final S&P Composite Purchasing Managers' Index for the euro zone was released on Monday, which showed business activity in the bloc expanding at its fastest pace in almost a year. The index jumped to 51.7 for April from 50.3 in March.
In individual stock news, e-commerce company share and post PostNL It fell 3.8% after announcing a first-quarter earnings loss. Volvo cars It saw a 1% rise after recording a 27% year-over-year increase in sales for the month of April.
— CNBC's Samantha Subin and Pia Singh contributed to this report.
