The announcement that more jobs than expected were created has lifted the US financial markets

It has been announced that the figures released which showed that the US has created more jobs than expected during the month of July has buoyed the US financial markets, leading to an increased sense of optimism throughout the sector.

The announcement that there had been 163,000 jobs added to the economy during July meant that concerns over the largest economy in the world could be eased and pointed towards a sustained, if rather patchy, recovery.

Speaking about the news, market strategist from GFT Markets, Fawad Razaqzada, said: “Those bumper non-farm payroll figures on Friday seem to be providing markets with a lasting distraction from the ongoing woes of the eurozone.”

Across Europe, the DAX in Germany rose by 1% while the French CAC-40 climbed 1.2%. In the UK the FTSE closed 0.6% higher at 5,821.

The market was also helped by a reassessment made last week of ECB president Mario Draghi’s comments, with the chief market analyst at Alpari, James Hughes, saying: “Despite last week’s disappointment, Draghi’s comments did suggest assistance in the near future and this is likely to increase risk appetite.”

Across other markets, improvements were also noted. The oil markets demonstrated a strong showing, pushing the price of oil per barrel to $90. This was despite the price for Benchmark crude dropping by 50 cents to $90.90 a barrel at the end of last week.

The housing market continued to show that it is recovering well, with house prices climbing as demand begins to outpace supply.