US European markets higher after jobs report; Maersk Dovan 5%

Pan-European Stocks 600
 13:50 p.m. There was an increase of 0.56%. London time, most sectors and major stock markets traded in the green.

US European markets higher after jobs report; Maersk Dovan 5%



US oil and gas stocks rose 1.28%, continuing their rally on supply concerns after President Joe Biden said Israel could target Iran's oil industry as the Middle East conflict escalates. On the other hand, utilities declined by 1.5%.

Automaker shares rose 2.2%, led by gains in Volvo
 and Volkswagen
, after the European Union voted Friday to adopt decisive tariffs on China-made battery electric vehicles (BEVs). It comes despite opposition to the move from many European carmakers, who fear retaliatory tariffs from one of their biggest markets.

Elsewhere, US shares of Danish shipping giant Moller-Maersk fell more than 8% after dockworkers and the United States Maritime Alliance on Thursday agreed to a tentative deal on wages, ending their three-day strike and easing pressure. on the sector.

A prolonged strike would provide an incentive for European shippers to take a larger share of global supply chain demand. Maersk was last seen down 5%, while Germany's Hapag Lloyd
 13.2% and lost to Switzerland's Kuehne+Nagel
 was down 1.6%.

US stock futures jumped on Friday after nonfarm payrolls data showed the US economy added 254,000 jobs in September, ahead of the 150,000 forecast by economists polled by Dow Jones.

Asia-Pacific markets were mixed on Friday following losses on Wall Street on Thursday, with concerns over Middle East tensions keeping investors on edge.

Hong Kong's Hang Seng index extended its rally, although mainland markets were still closed due to China's stimulus program for the Golden Week holiday.

Back in Europe, U.K. earnings come Friday from pub chain JD Wetherspoon
, while France publishes its industrial production data and the U.K. Prints construction data.

Comments

  1. Hong Kong's Hang Seng index extended its rally, although mainland markets were still closed due to China's stimulus program for the Golden Week holiday.

    ReplyDelete

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