European Stocks Steady as Investors Eye U.S. Jobs Data

European shares steadied on Monday, rebounding from a recent selloff. Investors focused on upcoming U.S. jobs data for economic insights. Media stocks led gains, with WPP rising on takeover interest. Saab shares surged following a major contract with Colombia.

European shares experienced a stable opening on Monday, recovering slightly from a pronounced selloff at the end of last week. Investors are awaiting critical U.S. jobs data that could offer insights into the health of the global economy.

The pan-European STOXX 600 rose marginally by 0.1%, reaching 575.78 points as of 0806 GMT. Concerns persist over the Federal Reserve's interest rate policies, alongside an overvalued technology sector, which contributed to last week's market decline.

Media stocks showed strong performance, notably WPP's 4% increase following takeover interest from France's Havas and various private equity firms. Meanwhile, Saab's shares climbed 5.8% after securing a substantial €3.1 billion contract to supply fighter jets to Colombia.

(With inputs from agencies.)