Stock markets in Europe closed higher on Monday with Germany’s strong new industrial orders data and expectations that the Federal Reserve will delay the tapering of asset purchases with disappointing US employment data.

The US economy added 586,000 jobs in August, the fewest jobs in seven months amid concerns over the Delta variant of the coronavirus, the Labor Department announced on Friday.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, rose 3.26, or 0.69%, to close at 475.19.

Germany’s DAX 30 jumped 0.96% or 150.92 points to 15,932 at Monday’s close, while London’s FTSE 100 was up 0.68% or 48.8 to 7,187.

Beating forecasts (minus 1%), Germany’s new orders in manufacturing rose by 3.4% from a month ago to reach their highest ever level in July.

France’s CAC 40 climbed 0.80% to end the day at 6,743.

Italy’s Borsa Italiana FTSE MIB 30 soared 198.65, or 0.76%, to 26,263 and Spain’s IBEX 35 gained 18.30 points, or 0.21%, to close at 8,882.

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