Stoxx Europe 600 Index climbed 0.6% with auto stocks gaining the most after the EU voted to impose tariffs on EVs from China
Euro zone bond yields and stocks leapt on Friday after data showed US jobs growth was stronger than expected in September, weakening the case for further outsized interest rate cuts from the Federal Reserve.
The FTSE 100 finished slightly down after a mixed day on Friday, as rising oil prices and strong US jobs figures prevented deeper losses.The FTSE was lifted by NatWest, Barclays and Lloyds all being among the top risers, as non-farm payroll figures showed the US economy gained 254,000 jobs last month, beating analyst expectations of 147,000.
“The brighter picture emerging for the US economy has also lifted shares in London, with the internationally focused FTSE 100 reversing earlier losses.” French President Emmanuel Macron warned this week that Europe’s economic model “needs to be reset,” and failure to account for the US and China’s greater domestic investment and market protections could be an existential threat for the EU. The bloc’s leaders are expected to unveil a new competitiveness roadmap next month.The case for strong US economic growth got a boost on Friday after labour market data came in far above expectations.
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