Stocks Start Week on Positive Footing

Stocks in Europe and Asia started the week higher as investors anticipated an extended period of easy monetary policy.

The Stoxx Europe 600 rose 0.2% in the early minutes of trading on Monday led by the mining sector, following gains on Wall Street and in Asia. Stock markets were broadly firmer after Friday's slightly weaker-than-expected U.S. jobs report dialed back expectations for the Federal Reserve to raise rates in September.

Earlier, shares in Hong Kong rose 1.7% and Australia's S&P ASX 200 rose 1.1% as a private gauge showed activity in China's service sector expanded at a faster pace in August.

Japan's Nikkei Stock Average gained 0.7%. Bank of Japan Gov. Haruhiko Kuroda signaled on Monday that he wouldn't retreat from monetary easing, but suggested caution on further interest rate cuts.

In currencies, the WSJ Dollar Index, which measures the dollar against a basket of 16 currencies, was down 0.3%, with the dollar down 0.6% against the yen at ¥ 103.3750 and the euro up 0.2% against the dollar at $1.1176.

Markets in the U.S. and Canada are closed Monday for the Labor Day holiday.

Write to Riva Gold at [e-mail]

(END) Dow Jones Newswires

September 05, 2016 04:25 ET (08:25 GMT)

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