European stock markets remained hesitant in opening deals on Monday, as dealers deliberated over disappointing US jobs data.

During the initial few hours of trade, London’s benchmark FTSE 100 index gained 0.2 percent and touched 7,111.73 points, in comparison with Friday’s closing level.

In the eurozone, the Paris CAC 40 increased by 0.1 percent touching 6,568.70 points, while Frankfurt’s DAX fell by 0.1 percent to 15,193.55.

Most Asian markets saw a rise on Monday after US lawmakers deterred a painful debt default while soaring oil prices contributed to inflation worries as the Federal Reserve prepares to tighten its ultra-loose monetary policy.

Global equities had for the most part fallen on Friday following news that the US economy generated a meager 194,000 jobs during the previous month. The figure provided in the data shows less than half the number which analysts had projected.

This failure to reach an adequate number for job creation comes at a time when the Fed is expected to wind back its huge bond-buying programme in line with its intentions to keep a cap on price hikes in the wake of a slowdown in economic recovery.

The story was filed by the News Desk.
The Desk can be reached at info@thecorrespondent.com.pk.

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