{"id":51295,"date":"2024-10-04T17:24:35","date_gmt":"2024-10-04T17:24:35","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/10\/04\/european-stocks-close-higher-on-strong-u-s-jobs-data-france-industrial-output-report\/"},"modified":"2024-10-04T17:24:35","modified_gmt":"2024-10-04T17:24:35","slug":"european-stocks-close-higher-on-strong-u-s-jobs-data-france-industrial-output-report","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/10\/04\/european-stocks-close-higher-on-strong-u-s-jobs-data-france-industrial-output-report\/","title":{"rendered":"European Stocks Close Higher On Strong U.S. Jobs Data, France Industrial Output Report"},"content":{"rendered":"
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European stocks ended higher on Friday with investors cheering upbeat U.S. jobs data. Geopolitical tensions persisted, but that did not deter investors from picking up several frontline stocks. <\/p>\n

In addition to reacting to U.S. jobs data and following geopolitical news, investors also digested a slew of economic data from the European region.<\/p>\n

The pan European Stoxx 600 climbed 0.44%. Germany’s DAX and France’s CAC 40 gained 0.55% and 0.85%, respectively. The U.K.’s FTSE 100 edged down 0.02%, while Switzerland’s SMI ended down 0.13%.<\/p>\n

Among other markets<\/span> in Europe, Austria, Belgium, Finland, Greece, Iceland, Netherlands, Norway, Poland, Russia, Spain, Sweden and Turkiye closed higher.<\/p>\n

Portugal edged up marginally, while Denmark closed weak.<\/p>\n

In the UK market, Natwest Group, Schrodders, Standard Chartered, Croda International and Barclays climbed 3 to 4%.<\/p>\n

EasyJet, DCC, Lloyds Banking Group, BP, Centrica, M&G, IAG, Mondi, BT Group, Antofagasta, Beazley, IHG, WPP, Weir Group and Fresnillo gained 1 to 2.7%.<\/p>\n

Spirax Group, SSE, JD Sports Fashion, Experian, AstraZeneca, Severn Trent, Segro, National Grid, Relx, British Land, Convatec Group and Halma lost 1 to 3.4%.<\/p>\n

In the German market, Siemens Energy, Volkswagen, Deutsche Bank, Continental, Infineon, Siemens, Commerzbank, BMW, BASF, Daimler Truck Holding, Porsche, Mercedes-Benz and Hannover Rueck gained 1 to 3.5%.<\/p>\n

RWE, Deutsche Boerse, Merck, Siemens Healthineers, Symrise, E.ON and Sartorius closed with sharp to moderate losses.<\/p>\n

In the French market, Accor rallied nearly 3.5%. Renault, Teleperformance, Vinci, Societe Generale and Veolia gained 2 to 3%. <\/p>\n

Bouygues, Saint-Gobain, Stellantis, TotalEnergies, Edenred, Publicis Groupe, BNP Paribas, Michelin, Sanofi, AXA, Essilor and Credit Agricole ended up 1 to 2%.<\/p>\n

Shipping firms such as Moeller-Maersk and Hapag Lloyd plunged 5.6% and 16% respectively, due to a worsening situation in the Middle East.<\/p>\n

Denmark’s DSV surged 6.7% after the logistics giant raised $5.5 billion in a share issue to partially finance its acquisition of Schenker.<\/p>\n

Italian energy major Eni S.p.A. gained about 1.5% after it secured the U.K. Government’s commitment and funding for the granting of an Economic License for the Liverpool Bay CO2 transport and storage or T&S project.<\/p>\n

In economic news, Germany’s construction sector activity contracted at the slowest pace in 16 months in September, survey results from S&P Global showed on Friday. <\/p>\n

The construction Purchasing Managers’ Index rose to 41.7 from 38.9 in the previous month. This was the highest since May 2023. However, the score remained below 50.0, indicating contraction.<\/p>\n

The UK construction activity posted its fastest expansion in nearly two-and-a-half years in September on improving output and new order growth amid falling interest rates, survey data from S&P Global revealed. The construction Purchasing Managers’ Index registered 57.2 in September, up from 53.6 in August. The reading was forecast to climb moderately to 53.1.<\/p>\n

The index has remained above the neutral 50.0 threshold for the seventh straight month and the reading suggested the steepest rate of growth in 29 months. <\/p>\n

Data from the statistical office INSEE showed France’s industrial production rebounded in August driven by a strong rise in transport equipment output.<\/p>\n

Industrial output grew 1.4% on a monthly basis in August, faster than the 0.2% increase in July. Output was forecast to grow 0.3%. Manufacturing output advanced 1.6%, in contrast to the 0.2% fall in the previous month. <\/p>\n

UK new car registrations increased in ’74’ plate change month of September as heavy EV discounting shores up demand, the Society of Motor Manufacturers and Traders said. <\/p>\n

New car sales rose 1% to 275,239 units in September. In what is traditionally a bumper month for new car registrations, second only to March, the performance was the best since 2020.<\/p>\n

Data from the U.S. Labor Department said non-farm payroll employment jumped by 254,000 jobs in September after climbing by an upwardly revised 159,000 jobs in August.<\/p>\n

Economists had expected employment to rise by 140,000 jobs compared to the addition of 142,000 jobs originally reported for the previous month.<\/p>\n

The report also showed the unemployment rate edged down to 4.1% in September from 4.2% in August. Economists had expected the unemployment rate to remain unchanged. <\/p>\n<\/p>\n<\/div>\n