World stock markets advanced modestly Monday as investors rode momentum from Friday, when an upbeat U.S. jobs report eased fears that the global economy could slip back into recession.

European Union finance ministers are set to discuss the possibility of introducing a levy on banks and whether a tax on financial transactions could stave off another banking crisis when they meet in Brussels Tuesday.

U.S. President Barack Obama is asking Congress to approve at least $50 billion US in long-term spending on the country's roads, railways and runways in a pre-election effort to show he's trying to stimulate the sputtering economy.