European shares pare losses after above-consensus U.S. data
* FTSEurofirst 300 recovers from morning's dip
* U.S. job growth rises more than expected
* Tensions over Ukraine had pegged European shares back
By Alistair Smout
LONDON, March 7 (Reuters) - European shares pared earlier
losses on Friday, after closely watched U.S. jobs data came in
above expectations, reassuring investors about the state of the
world's largest economy.
Non-farm payroll data showed U.S. jobs growth was more than
expected in February, which could ease fears of an abrupt
slowdown in economic growth and support the Federal Reserve in
its decision to reduce its monetary stimulus. [ID:nL1N0M324P]
Employers added 175,000 jobs to their payrolls last month,
versus a consensus prediction from a Reuters poll of 149,000.
"There was a little relief on the figures, and we've tracked
U.S. futures higher," said Zeg Choudhry, head of trading at
Northland Capital Partners, adding that the report had reassured
after disappointing previous readings affected by bad weather.
"We need to see a sustained period of stable economic data
now for the recovery to be cemented, but it's a good start."
The pan-European FTSEurofirst 300 <.FTEU3> pared losses to
turn flat after the data release. By 1348 GMT, it had edged 0.1
percent lower to 1,343.34.
European shares had slipped in early trade on Friday, led
down by companies most exposed to Russia as investors trod a
cautious path while tensions appeared to mount over Russia's
intervention in Ukraine. [ID:nL6N0M41K1]
Europe bourses in 2014:
http://link.reuters.com/pad95v Asset performance in 2014:
http://link.reuters.com/rav46v Today's European research round-up [RCH/EUROPE]
Thread abonnieren
