European shares eke out gains on strong US job data, trade optimism

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European shares eke out gains on strong US job data, trade optimism

On Friday, the 6th of December 2019, a gauge of European stock indices had wrapped up the day with modest gains following reveal of a string of impressive US economic data undermining slowdown frets, while a set of affirmative quotes from leading officials of both Washington and Beijing had bolstered investors’ sentiments further.

In point of fact, stocks’ indices across the globe went for a roller-coaster ride with a number of wild side-way swings, while European stock indices had not been any different, nonetheless, followed by reveal of US non-farm payroll data for November showing the US economy added 266,000 jobs last month, remarking its biggest gain in ten months, investors had abruptly shrugged off slowdown frets and the regional pan-European index STOXX 600 ended up the day 1.2 per cent higher, erasing all of its weekly losses.

Meanwhile, referring to Friday’s (December 6th) US non-farm payroll data that released a blockbuster figure of 10-month-peak, ticking down unemployment rate to a five-decade-low reading of 3.5 per cent, a market analyst at City Index, Ken Odeluga, said on Friday’s (December 6th) European market wrap-up, “The market has been looking at the data with rapt attention, and of course we had what could be called a blowout number.

The possibility of the beginnings of some sort of slowdown tends to be obliviated by a reading like that. And the details tend to support it as well. ” Citing statistics, on Friday’s (December 6th) market round off, London’s FTSE 100 surged 1.43 per cent to 7,239.66, Frankfurt’s DAX soared 0.86 per cent to 13,166.58 and French CAC 40 gained 1.21 per cent to 5,871.91, while Madrid’s IBEX 35 index mushroomed 1.51 per cent to 9,382.70 and Italy’s benchmark MIB FTSE winded down the day 0.93 per cent to 23,182.72.