Stock Markets in Europe Rally in Positive US Jobs Data

European stock markets gained on Friday in reaction to positive US jobs data which created hopes and optimism among investors for recover in economy. As per latest data of the US Labor Department, non-farm payrolls increased by 243,000 in the month of January while the unemployment rate fell to 8.3 percent from 8.5 percent in the month of December. Investors were also optimistic in reaction to euro zone’s purchasing manager’s index which gained to 50.04 in the month of January as compared to 48.3 in the prior month.

The Europe Stoxx 600 index surged 1.7 percent to settle at 246.60 while of the week its advanced 3.6 percent. The biggest performers included, Temenos Group AG which surged 16 percent while Misys PLC advanced 1.2 percent.

The Germany’s DAX 30 index soared 1.7 percent to settle at 6.766.67 with top gainers including Daimler AG posting the gains of 3.1 percent BMW AG rising 2.9 percent for the day. The Greece’s stock exchange remained under pressure as the ASE Composite index slipped 3.8 percent to settle at 762.15.

In London, FTSE 100 index surged 1.8 percent to 5,901.07 for the day. Among the top gainers were Admiral Group PLS gaining 7.9 percent, BT Group PLC rising 3.9 percent and HSBC Holding PLC which surged 2.5 percent for the day.

France’s CAC-40 index jumped 1.5 percent to close at 3,427.92 with banking sector participating the most its surge. Among the top gainers included, Societe Generale S.A. surging 7.3 percent, Credit Agricole S.A. gained 4.7 percent while BNP Paribas advanced 3.2 percent.

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