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European stocks advance ahead of US jobs report

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The buying interest in the European equity bourses spiked ahead of the latest nonfarm payrolls data from the US.

    Scorecard

    At the time of writing, the pan-European Stoxx 50 index was up 0.30%. Germany’s DAX and UK’s FTSE index were up 0.20% and 0.50% respectively. France’s CAC index was up 0.20% as well.

    Norway’s Seadrill shares surged almost 15% after reports of falling US oil production hit the wires and raised the prospects of oil price recovery. In London, Glencore shares were up 5%.

    The moderate gains come ahead of the US payrolls data, which is expected to show the economy added 190 jobs in February. Investors will be closely watching the US jobs report as it could singlehandedly change the course of Fed actions.
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