European shares rebound tracking global sentiment on soft US jobs data
The pan-European STOXX 600 was up nearly 0.5% as of 0723 GMT, rebounding from losses made in the previous session.
Wall Street ended higher on Tuesday and Asian equities broadly rose on Wednesday after data showed U.S. job openings fell in April, signalling an easing labour market and firming bets of a Fed rate cut.
Investor focus, however, remained on the ECB’s key interest rate decision on Thursday, where it is expected to ease borrowing costs by 25 basis points from the present record levels of 4%.
All major European sectoral indexes traded higher, led by a 1.7% advance in the retail sector as Zara-owner Inditex jumped 4.7% on better-than-expected current trading numbers in its first-quarter results. Spain’s benchmark IBEX index outperformed the region’s bourses, up 0.76%. Markets will now await the May PMI data for the euro zone due later in the day.
Related
Gareth Southgate knew he was leaving England job before end…
Gareth Southgate has revealed he decided to step down as England manager before the end of Euro 2024. Southgate said in the immediate aftermath of England’s 2
Europe’s start-up ecosystem is evolving, with big investment returns now…
The future of a competitive Europe depends on innovation. To keep pace with other regions in an increasingly unstable geopolitical world, the E
Factbox-European companies cut jobs as economy sputters By Reuters
(Reuters) -Difficult economic conditions and persistently weak demand for many products have forced companies across Europe to freeze hiring or cut jobs. Here
Ireland ranks second in Europe for hybrid and remote job…
Ireland continues to lead in flexible working across Europe, ranking second in hybrid and remote job postings on LinkedIn in October.Coming in just behind the U
