Investing.com - European stocks opened higher on Monday, as Friday’s upbeat U.S. jobs data continued to boost sentiment, although weak Chinese trade data limited gains.
During European morning trade, the EURO STOXX 50 jumped 0.91%, France’s CAC 40 climbed 0.61%, while Germany’s DAX 30 advanced 0.83%.
Optimism over the strength of the U.S. economy was boosted after the Labor Department said on Friday that the U.S. economy added 255,000 jobs last month, well above expectations for 180,000.
But investors remained cautious as data released earlier Monday showed that China’s imports declined by 12.5% in July, compared to expectations for a 7.0% drop. Exports fell by 4.4% last month, compared to expectations for a 3.0% fall.
Financial stocks were broadly higher, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) rallied 1.59% and 1.34%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) jumped 1.72% and 1.73%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) advanced 1.71% and 2.81% respectively, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) climbed 1.10% and 1.51%.
Elsewhere, Siemens AG NA (DE:SIEGn) gained 1.32% following reports the company is set to build part of a power plant in Crimea, in spite of the European and international sanctions.
On the downside, Airbus Group (PA:AIR) saw shares tumbled 1.33% as the UK's Serious Fraud Office launched an investigation into allegations of "fraud, bribery and corruption" in the civil aviation business of the aircraft manufacturer.
In London, commodity-heavy FTSE 100 climbed 0.43%, boosted by sharp gains in the mining sector.
Shares in Glencore (LON:GLEN) jumped 1.64% and Rio Tinto (LON:RIO) rallied 2.34%, while rivals BHP Billiton (LON:BLT) and Anglo American (LON:AAL) surged 2.46% and 2.92% respectively.
Financial stocks were also on the upside, as the Royal Bank of Scotland (LON:RBS) advanced 1.32% and HSBC Holdings (LON:HSBA) rallied 1.62%, while Lloyds Banking (LON:LLOY) climbed 1.80% and Barclays (LON:BARC) soared 3.57%.
Meanwhile, Hikma Pharmaceuticals PLC (LON:HIK) lost 1.88% after saying on Friday that revenue from the generic products division in the first half of the year was lower than previously expected due to slower approvals for certain new products.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.25% rise, S&P 500 futures a 0.19% gain, while the Nasdaq 100 futures indicated a 0.29% increase.