European markets shrug off weak Chinese trade data
LONDON (AP) — European stock markets brushed aside soft Chinese trade figures to register big gains Monday as investors think that last week's weaker than anticipated U.S. jobs report means the Federal Reserve is less likely to raise interest rates next month.
Last week's figures showing that the U.S. economy generated a smaller than expected 160,000 jobs in April is the main driver in markets as many traders think the likelihood of a June rate hike from the Fed has fallen.
ANALYST TAKE: "What may be supporting markets this week is last week's jobs report which many have perceived to have been weak enough to further warrant the Fed holding back on rate hikes," said Craig Erlam, senior market analyst at OANDA.
Germany's DAX stock index was the standout performer in Europe after figures showed factory orders up strongly in March.