Crowds of shoppers and tourists on Oxford Street, London, England, August 28, 2024.
Mike Camp | In Pictures | Getty Images
LONDON – European stocks were higher on Monday, shrugging off more negative sentiment on Wall Street and Asia-Pacific markets.
Pan-European Stoke 600 The index was up 0.67% as of 8:41 a.m. London time, with gains across all sectors and major exchanges. Travel and leisure stocks led the gains, rising 1.69%, while technology stocks also rose 1.14%.
Regional markets opened higher after a sluggish start to the new trading week in the Asia-Pacific region. Markets in the region fell overnight after a weaker-than-expected U.S. jobs report on Friday, with Japan’s Nikkei 225 leading the region lower.
U.S. nonfarm payrolls rose by 142,000, below the 161,000 estimate by economists polled by Dow Jones. On the other hand, the unemployment rate fell slightly to 4.2%, in line with expectations. The data raises concerns about a slowdown in the U.S. labor market
U.S. stock index futures were lower on Sunday night after a tough week for U.S. markets; the S&P 500 fell 4.3%, marking its worst week since March 2023.
There are no major earnings or data releases in Europe on Monday.
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