FX & CFD trading involves significant risk
European stocks rose for a fourth day, extending a six-month high, after a report showed that the U.S. economy added more jobs last month than economists had predicted and the unemployment rate unexpectedly retreated.
European stocks extended their advance after a report showed the U.S. economy added 243,000 jobs in January. Employers hired an extra 203,000 people in December. The release also showed that the jobless rate retreated to 8.3 percent, its lowest level since February 2009.
A report showed that services industries in the U.K. unexpectedly increased last month. The measure of activity rose to 56 in January from 54 in December, according to a statement from Markit Economics and the Chartered Institute of Purchasing and Supply. That beat the average economist estimate for a reading of 53.3.
National benchmark indexes climbed in every western- European market today except Greece. The U.K.’s FTSE 100 Index added 1.8 percent. France’s CAC 40 Index gained 1.5 percent and Germany’s DAX Index advanced 1.7 percent.
Temenos surged 16 percent to 19.90 Swiss francs, its biggest rally since November 2008, after Misys said it has held talks with the Swiss software maker about an all-share merger. In a separate statement, Temenos said it is “evaluating its strategic options.” Misys gained 1.2 percent to 329.5 pence in London trading.
Admiral jumped 7.9 percent to 1,038 pence, its biggest jump since January 2009. The U.K. car insurer that owns the confused.com website rose the most since January 2009 after saying it has extended its reinsurance partnerships, without increasing its costs.
Daimler AG, the carmaker that makes 24 percent of its sales in the U.S., climbed 3.1 percent to 45.46 euros following the U.S. jobs report.
Volvo AB rose 4.4 percent to 94.70 kronor after the world’s second-largest truckmaker reported fourth-quarter earnings before interest and taxes that increased 26 percent to 6.96 billion kronor ($1.04 billion) from 5.52 billion kronor a year earlier. The Gothenburg, Sweden-based manufacturer posted sales that jumped 18 percent.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.