LONDON — European markets advanced on Monday as investors continued to monitor corporate earnings and key economic data points, assessing the risk of recession.
The pan-European Stoxx 600 index climbed 0.9% in early trade, with tech stocks adding 1.3% to lead gains as all sectors and major bourses entered positive territory.
The European blue chip index closed Friday’s session down around 0.8% after an unexpectedly strong U.S. jobs report lowered expectations for a recession, and in turn increased the likelihood of the Federal Reserve tightening monetary policy more aggressively to bring down inflation.
Markets in Asia-Pacific were mixed overnight, with Hong Kong’s tech-heavy Hang Seng index weighing down the region.
U.S. stock futures were flat after the S&P 500 closed out a third straight positive week, with investors turning their attention to a key inflation report on Wednesday.
On the data front in Europe, August’s Sentix economic sentiment index for the euro zone is due Monday morning.
Corporate earnings continue to drive individual share price movement in Europe, with Siemens Energy, Porsche and BioNTech among the companies reporting before the bell on Monday.
British financial services company Hargreaves Lansdown gained 3.7% to lead the Stoxx 600 after Deutsche Bank raised its price target for the stock.
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