BackUS jobs data boost stocks, Wall St set for gains
US jobs data boost stocks, Wall St set for gains
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London: Better-than-expected data on the state of US jobs on Friday reversed European stock losses, set Wall Street on course for a positive start and stripped demand for government bonds.
The dollar rose against the yen and fell against the euro.
The US Labor Department said that US employers cut 247,000 jobs in July and that the unemployment rate eased to 9.4% in July, the first time the jobless rate has fallen since April 2008.
Economists polled by Reuters had expected that 320,000 jobs were lost in July.
Global stocks remained weak but recovered from deeper losses, with MSCI’s all-country world index down around 0.1%.
The pan-European FTSEurofirst 300 index of top shares was up 0.3%, having previously been in negative territory.
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