EUROPE MARKETS: Defensive Plays Nudge European Stocks Higher As Key Jobs Data Awaits
October 04 2019 - 3:49AM
Dow Jones News
By Steve Goldstein, MarketWatch
Stocks in Europe moved grudgingly higher on Friday ahead of a
key report on the U.S. labor market, with defensive sectors leading
the advance.
The Stoxx Europe 600 gained 0.29% to 378.57. Pharmaceuticals
including Novo Nordisk(NOVO-B.KO) , food producers such as Danone
(BN.FR) , and household product makers like Reckitt Benckiser
(RB.LN) gained ground.
After a one-day break, the German DAX gained 0.17% to
11945.37.
The French CAC 40 rose 0.26% to 5452.85 and the U.K. FTSE 100 added 0.42% to 7107.07.
After a week of rough readings on purchasing managers indexes --
the Stoxx 600 has dropped over 3% over the last 5 days -- nonfarm
payrolls data is due at 8:30 a.m. Eastern.
Economists polled by MarketWatch forecast the U.S. added 147,000
new jobs last month. See jobs preview
(http://www.marketwatch.com/story/another-poor-us-jobs-report-would-add-to-wall-street-gloom-heres-what-to-look-for-2019-10-02).
U.S. stocks staged a reversal on Thursday, closing higher after
initially dropping when weak service-sector data was released.
After the close of trading, Fed Vice Chair Richard Clarida said the
risk of a recession is low -- if the central bank gets
interest-rate policy right
(http://www.marketwatch.com/story/risk-of-recession-isnt-high-as-long-as-fed-gets-policy-right-clarida-says-2019-10-03).
A report that Apple has asked iPhone 11 suppliers to boost
production gave a lift to the European tech sector, with sensor
maker ams (AMS.EB) and chip producers (STM.FR) and Dialog
Semiconductor (DLG.XE) advancing.
(END) Dow Jones Newswires
October 04, 2019 04:34 ET (08:34 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Novo Nordisk (NYSE:NVO)
Historical Stock Chart
From Apr 2024 to May 2024
Novo Nordisk (NYSE:NVO)
Historical Stock Chart
From May 2023 to May 2024