FTSE gains ground with US markets closed for holiday – live updates

At the midday mark, markets look firmly in the green after last week’s tumult following data showing weak US jobs growth.

The FTSE 100 is 0.61pc up at 7,181.7 points, with France and Germany’s bourses enjoying climbs of around the same amount.

While the US’s spectacular miss of just 235,000 jobs being created in August, versus expectations of 745,000, dented trader optimism last week, it has pushed investor confidence higher so far today as markets took on a bullish stance, betting that the Federal Reserve’s much-feared tapering of financial support looks a lot less imminent than it did last week.

“Stocks throughout Europe and Asia are heading higher after Friday’s weak payrolls figure,” said IG analyst Joshua Mahony.

“While the US recovery is clearly on unstable footing, it also brings hope that tapering could be delayed.”

US markets are closed for Labor Day of course.

Meanwhile, oil prices slipped by around 0.5pc after Saudi Arabia slashed the prices it charges Asian clients, just days after OPEC and other major producers agreed last week to press ahead with lifting output.