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The
MSCI All-Country World index rose 0.4 percent, while the
pan-European STOXX 600 index gained 0.2 percent.
European stock markets were supported by a broad equity rally on
Friday's payrolls data, and as Europe's under-pressure banks
extended gains from lows reached at the end of last month after
industry stress-tests showed many of them with relatively weak
balance sheets.
U.S. equity futures also moved higher, with Dow Jones futures
climbing 0.2 percent.
The dollar edged up against a basket of six major currencies,
while euro zone bond yields climbed as the U.S. numbers also
drove a sell-off in fixed income markets. [FRX/]
"The dollar took a big boost from the jobs numbers ... and there
is a part of the market that expect that to follow through into
retail sales on Friday," said Citi strategist Richard Cochinos.
"But really it's August trading at the moment and we're
struggling to find clear drivers."
The MSCI Emerging Market index advanced 1 percent.
Oil prices rose, lifted by reports of renewed talks among some
OPEC state to rein in output, a proposal that non-OPEC producer
Russia was quick to dismiss. [O/R]
Gold prices slipped, hitting a one-week low. [GOL/]
With stocks back in fashion, Zurich-based ACIES Asset
Management's chief investment officer Andreas Clenow said U.S.
equity markets were the preferred choice for many.
"The U.S. markets look pretty healthy. We keeping making record
highs in the U.S., but the European stock markets look much more
sluggish," he said.
(Additional reporting by Saikat Chatterjee in Hong Kong, and
Patrick Graham and Dhara Ranasinghe in London; editing by John
Stonestreet)
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