LONDON — European markets rose Monday as traders continued to weigh the possibility of rate cuts following weaker-than-expected U.S. jobs data.
French CAC40 was to open 50 points more at 8,239 points, the German DAX was expected to jump 60 points to 18,050. The United Kingdom FTSE100 was closed Monday due to a public holiday.
Friday’s report on U.S. nonfarm payrolls showed 175,000 jobs were created in April, below the 240,000 jobs expected by economists surveyed by Dow Jones.
The unemployment rate increased slightly to 3.9%, up from 3.8% the previous month, according to the Bureau of Labor Statistics. Wage figures also fell short of expectations, an encouraging sign for inflation.
In Europe, on Monday, the final S&P Composite Purchasing Managers’ Index for the Eurozone will be released at 9 a.m. London time. Chinese President Xi Jinping will visit France, while President Macron will welcome Xi to Paris.
Trading volumes are expected to be light with UK and Irish indices not trading on Monday.
— CNBC’s Samantha Subin and Pia Singh contributed to this report.
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