On November 15, 2023, at the Frankfurt Stock Exchange in Germany, a TV host was preparing for a daily report on the German stock price index DAX.
Staff | Reuters
LONDON – European stocks were higher on Friday after the latest U.S. jobs report surged to beat expectations.
Pan-European Stoke 600 The index was up 0.4% as of 3 p.m. London time, with most sectors and major exchanges in the green.
Banks led the gains, rising 2%, while oil and gas stocks rose 1.5%, continuing to climb on supply concerns after U.S. President Joe Biden suggested Israel could target Iran’s oil industry as conflicts in the Middle East escalate further. Utilities stocks, on the other hand, fell about 1%.
The automaker’s shares rose 1.98% after the European Union voted on Friday to impose final tariffs on Chinese-made battery electric vehicles (BEVs). While many European automakers oppose the measures, they fear retaliatory tariffs from one of their largest markets.
Elsewhere, shares in Danish shipping giant Moller-Maersk fell more than 8% at one point before U.S. longshoremen and the United States Maritime Alliance reached a tentative agreement on wages on Thursday, ending a three-day period strike, then narrowed the decline slightly.
A prolonged strike would help European shippers capture a greater share of global supply chain demand. Maersk has recently fallen about 5%, while Germany lloyd table down 14.29%.
U.S. stocks rose on Friday after non-farm payrolls data showed the U.S. economy added 254,000 jobs in September, higher than the 150,000 expected by economists polled by Dow Jones.
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