05 October 2024
Brussels, Oct 04 (QNA) – European stocks closed higher Friday after stronger-than-expected US job growth and a drop in the unemployment rate to 4.1 percent, suggesting there is no need for a major interest rate cut until the end of the year.
The pan-European Stoxx 600 index closed 0.4 percent higher, with most stock markets in the region, including Germany and France, rising.
The banking sector led the gains, rising 1.8 percent.
The sub-index for automakers advanced 1.6 percent after the European Commission said the European Union would go ahead with higher tariffs on electric vehicles made in China, despite Germany’s objections.
Despite Friday’s gains, most European stock markets posted weekly losses, with the Stoxx index falling 1.8 percent during the week, as investors avoided risk amid rising tensions in the Middle East.
On a weekly basis, the energy sector was the best performer due to higher crude oil prices, while personal and household goods and cars were among the most declining sectors. (QNA)
Economy, International
European stocks ended higher on Friday with investors cheering upbeat U.S. jobs data. Geopolitical tensions persisted, but that did not deter investors from pi
The pan-European Stoxx 600 index rose by 0.45% to close at 518.60, while Germany's DAX climbed 0.55% to 19,120.93, and France's CAC 40 led with a 0.85% increase
Oct 4 (Reuters) - European shares closed higher on Friday as a stronger-than-anticipated U.S. jobs report allayed growth fears in the world's biggest economy, t
By Shashwat Chauhan and Pranav Kashyap (Reuters) -European shares closed higher on Friday as a stronger-than-anticipated U.S. jobs report allayed growth fears