European Stock Stocks Gain, Bolstered by U.S. Markets
May 19, 2011
U.S. equity and bond markets advanced despite a stronger-than-expected report on employment. The data was a further indication that the U.S. economy is strengthening and that the Federal Reserve will raise interest rates to head off inflation. The U.S. unemployment rate turned sharply lower in August, falling to 5.1% from 5.4% the prior month. Meanwhile, nonfarm payrolls climbed by 250,000, somewhat greater than expected. In addition, a reading on July payrolls was revised solidly higher. Stock prices rose in Britain, Germany, France, Italy, Switzerland, Sweden, Spain and Belgium following the release of the data, while shares closed flat in Amsterdam. Meanwhile, in Johannesburg, gold shares declined as the price of spot gold slipped. Friday's session was suspended for nearly five hours due to a technical problems. In dollar terms, the European sector of the Dow Jones World Stock Index was down 0.35 to 145.01 at 1:30 p.m. EDT Friday, after slipping 0.01 the previous day. The world index as a whole was up 0.23 to 137.14, adding to Thursday's loss of 0.40. Advanced-technical-medical-device and air-freight shares led the Dow Jones Global Industry Groups, while fishing and container-and-packaging issues were among the laggards. European Stock Market Indexes Market IndexSept. 6Change Belgium
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