The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 6, 2023.
Staff | Reuters
LONDON — European markets held in positive territory on Friday, as traders around the world assessed a key November jobs report out of the U.S.
The pan-European Stoxx 600 index closed up 0.7%. Travel and leisure stocks added 1.5% to lead gains while mining stocks fell 2.3%.
Global mining company Anglo American ended the session at the bottom of the European benchmark, down 19%, after announcing a plan to cut its capital expenditure amid a fall in metal demand.
Global attention turned on Friday to November’s U.S. jobs report, as investors try to gauge the likely trajectory of interest rate decisions from the Federal Reserve over the next year.
November’s nonfarm payrolls report showed an unexpected drop in unemployment. The jobless rate fell 3.7%, compared to a forecast of 3.9%. The U.S. economy added 199,000 jobs during November, slightly ahead of the 190,000 estimate from Dow Jones and the 150,000 added in October.
U.S. stocks rose slightly on Friday. Markets in Asia-Pacific were mixed overnight after a surprise downward revision of Japan’s third-quarter gross domestic product, while India’s central bank held its benchmark lending rate steady.