Business World

Friday 17 November 2017

European shares extend record highs on strong US jobs data

EUROPEAN shares extended their gains to hit a session high on Friday after better-than-expected U.S. monthly jobs data that also showed a drop in the unemployment rate to a four year-low.

At lunchtime, the FTSEurofirst 300 index of top European shares was up 0.7pc at 1,192.57 points. The index was up 0.5pc shortly before the data was released.

German Bund futures fell as much as 45 ticks on the day to a session low of 142.38 while the cash 10-year yield rose to 1.536 percent from 1.496pc just before the data.

Sterling fell to a more than 2-1/2 year low against the dollar, to $1.4930 from $1.5035 beforehand.

Non-farm payrolls surged 236,000 jobs last month, data showed, well above economists' expectations for a gain of 160,000. The jobless rate fell to 7.7pc, the lowest since December 2008, from 7.9pc in January.

Reuters

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