Shares Stroll Higher on June Hike Hiatus Hopes

A man walks past an electric monitor displaying Japan's Nikkei share average and recent movements, outside a bank in Tokyo, Japan, on June 5, 2023. Issei Kato/Reuters

SYDNEY/LONDON—Shares rose and the dollar firmed on Monday as investors bet the Federal Reserve would pause its rate hikes this month after a mostly encouraging U.S. jobs report, while oil prices jumped after Saudi Arabia pledged big output cuts.

The benchmark European STOXX index climbed 0.18 percent in early trading, led by gains in the oil & gas sector index and echoing a 0.2 percent gain in MSCI’s broadest index of Asia-Pacific shares outside Japan.