Investing.com - European stocks opened higher on Monday, as markets were still digesting Friday’s strong U.S. employment data, although global gepoloticial tensions persisted.
During European morning trade, the EURO STOXX 50 edged 0.17% higher, France’s CAC 40 gained 0.30%, while Germany’s DAX 30 added 0.12%.
Sentiment improved on global equity markets after the U.S. Labor Department on Friday said the economy added 209,000 jobs last month, blowing past expectations for an increase of 183,000.
The unemployment rate ticked down to 4.3% in July from 4.4% the previous month. The report also showed that average hourly earnings increased by 0.3% last month.
Elsewhere, the United Nations decided over the weekend to implement new sanctions against North Korea over its intercontinental ballistic missile tests.
In a telephone call on Sunday, President Donald Trump and South Korean President Moon Jae-in agreed to apply maximum pressure on Pyongyang.
Financial stocks were mixed, as French lenders BNP Paribas (PA:BNPP) declined 0.73% and Societe Generale (PA:SOGN) added 0.04% and 0.18%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) gained 0.18% and 0.57%.
Among peripheral lenders, Italy’s Unicredit (MI:CRDI) and Intesa Sanpaolo (MI:ISP) rose 0.24% and 0.52% respectively, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) edged up 0.17% and 0.22%.
Shares in ArcelorMittal surged 3.03% after analysts at Jefferies Group reaffirmed their buy rating on the stock.
Renault (PA:RENA) added to gains, with shares up 0.98% after the French carmaker announced plans to sign a long-awaited deal on Monday to build more than 150,000 cars a year in Iran.
In London, commodity-heavy FTSE 100 rose 0.27%, boosted by sharp gains in the mining sector.
Shares in Anglo American (LON:AAL) jumped 1.65% and BHP Billiton (LON:BLT) rallied 1.76%, while Rio Tinto (LON:RIO) and Glencore (LON:GLEN) both surged 1.79% and 1.81% respectively.
Meanwhile, financial stocks were steady to lower as Barclays (LON:BARC) dipped 0.02% and Lloyds Banking (LON:LLOY) inched up 0.01%, while HSBC Holdings (LON:HSBA) slipped 0.17% and the Royal Bank of Scotland (LON:RBS) dropped 0.50%.
Paddy Power was one of the worst performers on the index, as shares dove 6.38% after the betting company said its chief executive Breon Corcoran will be stepping down after 16 years of service.
He will be replaced by Peter Jackson, who has been CEO of the UK arm of payments group Worldpay since only March 2017.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.19% gain, S&P 500 futures signaled a 0.16% rise, while the Nasdaq 100 futures indicated a 0.24% increase.