Business Standard

European shares rise, eyes on US jobs data

Sentiment was boosted by a surge in Chinese imports

Reuters Paris

European shares rose in early trade on Friday, reversing the previous session's losses with markets on the euro zone periphery adding to brisk gains made so far this year.

Sentiment was boosted by a surge in Chinese imports, although the market's gains could be limited ahead of the US monthly jobs report that may shed light on the outlook for the federal Reserve's stimulus programme.

At 0806 GMT, the FTSEurofirst 300 index of top European shares was up 0.6% at 1,322.58 points, with Spain's IBEX up 0.9% and Italy's FTSE MIB up 0.7%.

Shares in mining and metal groups bucked the trend, with Rio Tinto down 1% and Norsk Hydro down 1.3%, after U.S. aluminium major Alcoa Inc posted a massive quarterly loss and issued an outlook for stagnant growth in global aluminum demand.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 10 2014 | 1:49 PM IST

Explore News