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German Market Firmly In Positive Territory

The German market is trading firmly in positive territory on Monday, as the monthly jobs report from the U.S. indicated that the economic growth is not gathering sufficient momentum for the Federal Reserve to scale down its bond-buying program. That said, worries about growth in China kept optimism in check.

China's economic growth likely slowed again in the second quarter, as a set of economic data released over the weekend pointed to sluggish activity across the world's second largest economy. Exports, lending, industrial production and fixed asset investment showed weaker growth in May while retail sales maintained momentum. Inflation slowed unexpectedly during the month.

Investor confidence in Eurozone improved for a second consecutive month in June, data released by think-tank Sentix showed. The investor sentiment index rose to -11.6 in June from -15.6 in May. The latest figure, however, was slightly weaker than -11.3 expected.

The Euro Stoxx 50 index of eurozone bluechip stocks is adding 0.15 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is gaining 0.11 percent.

The DAX index is currently gaining 0.9 percent.

Deutsche Post is gaining 2.5 percent. Lufthansa is rising 2.4 percent. Fresenius is adding 2.3 percent.

Wacker Chemie is climbing 3.6 percent. Macquarie raised the stock to ''Outperform'' from ''Underperform.''

FMC is adding 3.4 percent. Barclays upgraded the stock to ''Overweight'' from ''Equalweight.''

Elsewhere in Europe, the French CAC 40 is unchanged while the UK's FTSE 100 is advancing 0.1 percent. Switzerland's SMI is rising 0.5 percent.

Japanese shares led the Asian stocks higher with Nikkei 225 gaining close to 5 percent. Hong Kong's Hang Seng rose 0.2 percent. The markets in China and Australia were closed for holidays.

In the U.S., futures point to a higher open on Wall Street. In the previous session, stocks rose sharply, after the monthly jobs report served to alleviate investor concerns. The Dow gained 1.4 percent, while the tech-heavy Nasdaq and the S&P 500 added about 1.3 percent each.

In the commodity space, crude for July delivery is losing $0.33 to $95.70 per barrel while August gold is declining $5.4 to $1377.6 a troy ounce.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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