Monday, December 7, 2015

Europe shares Are Up

Shares in Europe are more up beat at the start of trading on Monday, which uplifted by gains on US stocks and a weaker euro. The US dollar is up due to the jobs data last Friday which added more job bolstered investor confidence in the strength of the U.S. economy.

Share in Asia was lower since investors are showing caution on Chinese economic data due late this week which is expected to show the world's second-largest economy is still sluggish.

Crude oil prices held near their lowest levels of the year after OPEC failed to agree on output targets that could cut a global glut of supply.

Market moves this week may be muted as investors digest the European Central Bank's moves last week to stimulate growth and inflation, which disappointed many, and look ahead to next week's U.S. Federal Reserve policy meeting, at which rates are expected to rise for the first time since 2006.

The pan-European FTSEurofirst 300 stocks index .FTEU3 rose 1.3% as a weaker euro lifted exporters. Germany's DAX .GDAXI added 1.6%. European shares closed at three-week lows on Friday after the euro soared in reaction to Thursday's ECB decision.

Sweden's Electrolux (ELUXb.ST) was down by 11% after its $3.3 billion deal to buy General Electric's (GE.N) appliance business fell through.

Wall Street had a 2% gain last Friday that lifted European equity investors' spirits. That followed data showing 211,000 new U.S. jobs were created in November, which cemented already firm expectations the Fed would raise interest rates on Dec. 16 and was perceived as a sign of the U.S. economy's strength.

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