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
Both women and men have been hit by job losses in the downturn, says a new report adopted by the European Commission today.
more »
Unemployed car and construction workers in Sweden, Austria, and the Netherlands will get €15.9 million in EU Globalisation Adjustment Fund aid for training, self-employment and professional orientation services under a plan endorsed by Parliament in plenary on Wednesday.
more »
As the economy recovers, EU countries will need to phase out crisis measures. The question is when?
more »
The European Commission has endorsed, under EU state aid rules, a Polish scheme intended to compensate the Polish Post for net losses incurred in discharging its public service obligations between 2006 and 2011.
more »
The European Commission reports good progress in the implementation of the Small Business Act (SBA) in 2009.
more »
The European Commission approved the first financing decisions in favour of eleven African and two Caribbean countries for a total of € 230 million, including € 215 million under the so-called Vulnerability FLEX mechanism (V-FLEX).
more »
Legal measures to make it easier for people who have lost or risk losing their jobs to get credit to start up their own businesses were backed by the European Parliament on Tuesday.
more »
How can companies and industry help to stop climate change? This is one of the questions on the table when Sweden’s Minister for Enterprise and Energy Maud Olofsson attends the climate change conference in Copenhagen on Monday and participates in a panel discussion organised by Businesseurope.
more »
In a meeting held today in Brussels, the Gas Coordination Group, under the chairmanship of the Commission, has discussed with Russian Gas Company Gazprom the gas supply and demand outlook and investment strategy of the company in both Russia and the EU.
more »
The European Commission has approved under EU state aid rules the impaired asset relief measure and the restructuring plan of Royal Bank of Scotland (RBS).
more »