European shares rebound ahead of euro zone inflation data, US jobs report
VGK•European shares rose 0.9% as investors awaited euro zone inflation data and a US jobs report, following a 1.3% drop the previous day. Technology shares led sector gains, up 2.2%.
1. Shares rebound
The pan-European STOXX 600 gained 0.9% to 632.77 points by 0835 GMT on Friday, after falling 1.3% on Thursday to its lowest level in more than three months. Investors awaited euro zone flash inflation data and US nonfarm payrolls for clues on monetary policy.
2. Sector and stock moves
Technology shares led sector gains, rising 2.2%, while European banking stocks added 0.5% and remained on track for their worst weekly performance since April. Commerzbank fell roughly 1% after RBC cut its rating to “sector perform” from “outperform.” Julius Baer rose 2.9% after announcing a share buyback programme of up to 600 million Swiss francs ($724 million).
