European stocks rise on strong Chinese data, ahead of US jobs report

2019-11-01 10:42:35 GMT (Economies.com)
European stocks rise on strong Chinese data, ahead of US jobs report

European stocks rose on Friday, as strong Chinese manufacturing data spurred the market sentiment, while investors are eagerly anticipating the US jobs data later today for more insight on the US economic growth track.

 

Stoxx Europe 600 rose by 0.25% as of 08:45 GMT, while it closed lower by 0.5% yesterday, on profit-taking from 21-month peak, as the mining and automotive sectors plunged due to concerns over the US-China trade deal.

 

The index opened today's session higher, with most of the major European exchanges and sectors rising.

 

The mining and basic resources sector saw the largest losses in Europe, with a rise by 1.0% after strong manufacturing data for the world's largest consumer of metals and commodities, China.

 

Factory activity in China grew 51.7 points in October, the third straight month and the fastest expansion since February 2017, in a sign of an increase in export and production orders. .

 

The US new non-farm payrolls data for October will be released later today, which is a major indicator on the growth path of the US economy during Q4 this year.

 

S&P 500 futures rose by 0.3%, after it closed lower by 0.3% yesterday at Wall Street, on profit taking after it posted its all-time record high of 3,050.10 points.

 

To the European stock markets, the Euro Stoxx 50 index rose by 0.3%, the German DAX rose by 0.5%, with France's CAC 40 rising by 0.3%, and in London, the FTSE 100 rose by 0.3%

 
 
 
  Symbol Last Change Chg.%
1.1085
0.0023
0.2120%
1.3146
0.0009
0.0697%
Tadawul
8134.60
68.18
0.85%
16.677
0.105
0.637%
58.945
-0.165
0.279%
64.01
-0.33
0.51%
1466.515
6.670
0.457%
 
 
US
 
Europe
 
Asia