World shares mixed as investors weigh US data, OPEC deal

Global stock markets were subdued on Monday as investors weighed the strength of US economic jobs data from last week against longer-term concerns about the coronavirus’ impact on world growth.

Momentum continued in some markets from a rally on Friday, when the US Government said employers added 2.5 million workers to their payrolls in May, when economists were expecting them instead to slash another 8 million jobs. That raised hopes that the worst of the recession may have already passed. But economists cautioned that many risks still loom on the long road to a full recovery. “One should … Be cautioned against reading too much into any single month-on-month change, particularly during such times of uncertainty,” Jingyi Pan of IG said in a commentary.