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European stocks steadier before US jobs data

LONDON: European stock markets were steadier at the open Friday following strong gains the previous session, as traders awaited key US jobs data.
London’s benchmark FTSE 100 index gained 0.3 percent to 7,098.49 points.

In the eurozone, Frankfurt’s DAX traded flat at 15,245.81 points and the Paris CAC 40 rose 0.2 percent to 6,609.88.

Europe’s main indices had risen between one and two percent on Thursday as the United States temporarily resolved a political logjam that had raised the risk of a catastrophic US government default.

European stocks rally as US set to avoid debt default

Attention has turned to the US jobs figures due out later Friday.

“This economic reading commands the most attention among investors and traders as the… data not only sets the trading tone for today but it also influences it for the rest of the month,” noted Naeem Aslam, chief market analyst at AvaTrade.

“As always, the Fed will watch this data very closely, and it is highly likely to influence their monetary policy.”

The Federal Reserve is shortly expected to announce when it plans to begin withdrawing its huge financial support measures put in place at the start of the pandemic.

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