Europe continues rally on U.S. jobs data

Monday, 11. July 2016 09:28

European stocks traded higher early on Monday following upbeat sentiment during the Asian session, after all markets were in the green on Friday due to better-than-expected U.S. nonfarm payrolls data.

The DAX advanced 1.35% at 9:05 a.m. CET. The best performer was ThyssenKrupp with shares jumping 6.24% at 9:07 a.m. CET. The German steelmaker is in talks with Tata Steel on the possibility to establish a joint venture to run the Indian company's steel mills in Europe.

The CAC 40 added 1.14% at 9:13 a.m. CET. ArcelorMittal’s stocks recorded the biggest gains of 4.21% at 9:03 a.m. CET. LafargeHolcim followed with an increase of 2.54%. The French industrial company said it decided to sell its subsidiary in India for 1.4 billion to Nirma Limited.

The FTSE 100 rose 0.7% at 9:07 a.m. CET. The biggest gainer was Glencore, whose stocks increased 4.75% at 9:24 a.m. CET.

Sterling fell 0.12% against the dollar to 1.2934 at 9:15 a.m. CET. At the same time the euro was 0.23% down against the greenback, buying $1.1027.

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Breaking the News / DN