The Pan-European Stoxx 600 enjoyed a steady ground, as most of its sectors were trading in the positive territory. Sweden’s Alfa Laval was up by 3 percent after receiving a rating upgrade from the Bank of America Merrill Lynch. In contrast Lufthansa stocks were bearish after UBS lowered its rating of stocks from “buy” to “neutral.
Across the Atlantic, Wall Street was also performing well last week when the U.S. employment data for June came out stronger than expected pushing Asian market into better positions as well.
The oil market in the European sector was also bullish. Brent Crude oil was up 0.15 percent at $46.78 per barrel while WTI was also up by 0.14 percent closing at $44.30 per barrel.
According to the June jobs report, the U.S. job market performed better than expected with the addition of 222,000 new jobs, surpassing the 179,000 forecast. The data suggests that the Fed might push through with its plans for a third interest rate hike this year.
The U.S. dollar index was stable at 96.018. The greenback was traded at 0.1 percent higher against the Japanese Yen closing at 113.98, after inching higher earlier in the session at114.18 thanks to the U.S. Jobs report. The euro slipped by 0.1 percent closing at $1.1400 against its American counterpart.