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Europe seen higher after weak US jobs report

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European equities are expected to open higher Monday after a weak U.S. employment report dampened expectations that the U.S. Federal Reserve will start raising interest rates soon.

The latest jobs data from the U.S. are the focus for global markets Monday. September's closely-watched jobs report showed the U.S. economy created 142,000 jobs, far below the expected 203,000. Unemployment held at 5.1 percent while the participation rate plunged to 62.4 percent, according to the Labor Department.

Many investors are now not expecting the Fed to raise interest rates this year, even though several officials have said in recent weeks that a hike probably would be appropriate before the end of 2015. Expectations for a rate increase fell further after the report was released, with traders pushing the probability out to March 2016.

U.S. stocks closed more than 1 percent higher following the report on Friday and on Monday, Asian shares rallied on the back of the jobs data, with European markets set to follow suit.

Source: CNBC


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