European markets are leaping as US interest rate hike threat recedes

European markets jumped up at the open on Monday, as a poor US jobs report last week signalled the era of record low interest rates will continue.

Asian markets have also been jumping.

Mic Mills, head of client services at CapitalIndex said in an email: "After Friday's non-farm figures were shrugged off in the US to end the week on a positive note, that optimism has flowed through into the Asian session as bleaker economic outlook in the US means cheap money is here for another few months."

"The Japanese and Hong Kong markets were leading the way with the Nikkei up 1.91% at 18065.58 and the Hang Seng currently up 1.4% at 21810."

Meanwhile, Glencore shares have gone throught the roof on market rumours of a takeover. The shares are up more than 7% in London trading.

Here's the European share market scoreboard as it stands at 8.20 a.m. UK time:

UK's FTSE: +1.42%

Germany's DAX: +1.07%

France's CAC40: +1.67%

Spain's IBEX: +1.43%

And this is what's happened to the Euro Stoxx 50, which is an index of Europe's biggest publicly listed companies.

It opened up 1.47%:

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