European stocks climbed, with the Stoxx Europe 600 Index heading for its first weekly gain in three, before a report that may show U.S. payrolls expanded at a faster pace last month.
The U.S. economy created 115,000 jobs last month, up from 96,000 in the prior period, economists forecast before today’s Labor Department report. Earlier this week, a release from ADP Employer Services said companies added 162,000 jobs last month, exceeding economists’ estimates.
ECB President Mario Draghi reiterated during a press conference in Slovenia yesterday that the central bank won’t start intervening in bond markets until governments like Spain request a bailout and agree to conditions. He also ruled out allowing the ECB to take losses in any further Greek debt restructuring and damped speculation of another interest-rate cut.
The prime ministers of Italy, Spain, and France meet at a summit of Mediterranean leaders in Malta today.
Gauges of automakers and oil companies on the Stoxx 600 were among the best performers of the index’s 19 industry groups. BMW advanced 1.3 percent to 60.52 euros. Technip, Europe’s second-largest oilfield-services provider, jumped 2.7 percent to 89.71 euros.
Burberry rallied 1.3 percent to 1,013 pence. Morgan Stanley raised its recommendation on the stock to overweight, the equivalent of a buy rating, from equal weight.
FTSE 100 5,852.21 +24.43 +0.42%
CAC 40 3,428.24 +27.04 +0.80%
DAX 7,348.81 +43.60 +0.60%
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