European shares rebound ahead of US jobs data

| Updated on: Dec 05, 2014

European shares rebounded on Friday, recouping some of the sharp losses suffered in the previous session, as investors positioned for strong US jobs data which would underpin expectations about growth in the world's largest economy.

Estimate-beating German industrial orders also supported the sentiment, adding to signs that Europe’s largest economy is starting to pick up after a weak third quarter.

The pan-European FTSEurofirst 300 was up 0.8 per cent at 1,391.50 points after falling 1.4 per cent in the previous session, when the European Central Bank said any decision on further stimulus would be made next year.

US employment growth likely accelerated a bit in November. Non-farm payrolls probably increased by 230,000 jobs last month after rising by 214,000 in October, according to a Reuters’ survey of economists.

Analysts warned that a number too far above consensus would trigger speculation about an early rate hike by the Federal Reserve.

“Anything above 200k without being too close to 300k...should be supportive of stock markets,’’ Jasper Lawler, a market analyst at CMC Markets, said.

Published on March 12, 2018

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