Surprisingly strong U.S. employment figures breathed life back into a jaded recovery story Friday, sending European shares higher with German software firm SAP leading a tech charge
Published:
4 October 2003 y., Saturday
SAP rallied eight percent to 114.3 euros after U.S. rival Siebel said it would meet quarterly profit forecasts, though revenues would be at the lower end of expectations.
Broker upgrades lifted three of Europe's leading technology firms, with handset giant Nokia of Finland up five percent at 14.5 euros, while Dutch chip equipment maker ASML jumped 10 percent to 12.8 euros. Philips Electronics advanced four percent to 21.3 euros.
Insurers were strong, led higher by Dutch Aegon after UBS bank raised its rating on the stock, along with that of Italy's Generali, which also climbed.
Bourses extended their advance in the early afternoon on news U.S. employers added 57,000 new jobs in September for the first time in eight months, when a 30,000 job loss was expected. The unemployment rate held steady at 6.1 percent.
The news reassured investors that economic recovery is finally creating new jobs so that consumers, which represent two-thirds of U.S. economic activity, are able to keep spending.
Šaltinis:
cnn.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
An International Monetary Fund mission led by Mr. Paulo Drummond visited Bissau during January 12-27, 2010, to discuss the government’s medium-term economic program that could be supported by the IMF under the Extended Credit Facility.
more »
The International Monetary Fund (IMF) and the World Bank's International Development Association (IDA) have agreed to support US$1.9 billion in debt relief for the Republic of Congo, which includes US$255.2 million of debt relief from the two institutions.
more »
In 2009, net external assets of Monetary Financial Institutions remained negative but increased by LTL 9.3 billion.
more »
Spain's Minister for Science and Innovation, Cristina Garmendia, supports making R&D+i at the heart of Europe as a key to economic recovery.
more »
Lithuania and Malta granted reprieve on budget deficits; Hungary and Latvia on track to meet deadlines.
more »
More responsibility for fishermen, rules favouring good fishing practice and adjusting fisheries management models to complement and improve the traditional quota system should be among the key aims of common fisheries policy reform, say MEPs in an own-initiative report approved by the Fisheries Committee on Wednesday.
more »
On January 8, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Yemen.
more »
On January 22, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Norway.
more »
Agriculture can help to slow climate change, but should be ready to adapt to the impact of global warming, said Agriculture Committee MEPs and scientists at a public hearing on Wednesday.
more »
The Ministers for Employment of the European Union are holding an informal council on Thursday 28 and Friday 29 January which will lay the foundations for drawing up the common policies in the area of employment which the European Union will adopt over the next ten years as part of the “2020 Strategy”.
more »