European stock markets soared yesterday after weaker-than-expected US jobs figures eased pressure on the Federal Reserve to hike interest rates.
The FTSE 100 rose 1.7 per cent to 10,652.87 in London, while the Dax gained 2.2 per cent in Frankfurt and the Cac was up 1.7 per cent in Paris.
On Wall Street, the Dow Jones Industrial Average hit a new record high, but the Nasdaq fell as tech giants sold off.
It came after the non-farm payrolls report showed employment rose 57,000 in June after a 129,000 rise in May and 148,000 in April. Analysts expected a 110,000 rise.
Chris Beauchamp, chief market analyst at IG, said: ‘Any sign that the Fed may not have to rush to increase borrowing costs naturally spells good news for equities around the globe.’
