World shares post gain after strong US jobs data

singapore — Asian and European shares rose Monday after last week’s upbeat US jobs report, despite the impasse between Beijing and Washington over trade.

Germany’s DAX rose 0.2 per cent to 12,753.27 and France’s CAC 40 added 0.4 per cent to 5,484.95. Britain’s FTSE 100 climbed 0.7 per cent to 7,754.22. Wall Street was poised to open higher, with Dow futures up 0.5 per cent to 24,750.00 and broader S&P 500 futures up 0.4 per cent to 2,744.20.

U.S. employers added a robust 233,000 jobs in May, up from 159,000 in April, helping to drive the nation’s unemployment rate to an 18-year low of 3.8 per cent. That pushed share prices higher on Wall Street on Friday.

Japan’s benchmark Nikkei 225 index rose 1.4 per cent to 22,475.94 and South Korea’s Kospi gained 0.4 per cent to 2,447.76. Hong Kong’s Hang Seng rallied 1.7 per cent to 30,997.98 and the Shanghai Composite index rose 0.5 per cent to 3,091.19. Australia’s S&P/ASX 200 gained 0.6 per cent to 6,025.50. Taiwan’s benchmark rose and Southeast Asian indexes were mostly higher.

Oil futures dipped on speculation that Opec countries may decide to raise supply at a summit later this month. Benchmark US crude fell 7 cents to $65.74 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost $1.23 to settle at $65.81 per barrel on Friday. Brent crude, used to price international oils, fell 22 cents to $76.57 per barrel.