European stocks resume gains as odds for US monetary tightening recede
European stocks rose on Monday, resuming gains after taking a pause on Friday due to profit-taking and corrections, while today's uptrend comes thanks to strong market sentiment and low chances for the US monetary policy tightening.
The Stoxx Europe 600 index rose 0.6% as of 11:15 GMT, after closing lower by 0.6% on Friday due to profit-taking from a 3-week low at 475.13 points.
The tech saw the largest gains in Europe today, following US tech giants' strong gains.
The US Department of Labor reveled on Friday that the US economy has added 235K jobs in August, worse than forecasts of adding 720K new jobs.
Federal Reserve Chairman Jerome Powell has stressed the need for stronger jobs data before cutting the bond-buying program.
S&P 500 futures rose 0.25% today, after the index closed flat on Friday, and today Wall Street will be closed in observance of Labor Day holiday.
Back to Europe, the Euro Stoxx 50 index rose 0.9%, France's CAC 40 rose 0.8%, Germany's DAX index rose 0.8%, and the UK's FTSE 100 rose 0.6%.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1733
|
0.0019
|
0.1626%
|
|
|
|
|
1.3706
|
0.0030
|
0.2201%
|
|
|
|
Tadawul
|
11270.57
|
-40.58
|
0.36%
|
|
|
|
|
22.655
|
0.354
|
1.590%
|
|
|
|
|
73.330
|
2.397
|
3.379%
|
|
|
|
|
77.56
|
0.31
|
0.40%
|
|
|
|
|
1753.460
|
-3.345
|
0.190%
|
|
