PRODUCT PROFILE

Latest Dublin Prices

European markets edge higher on US data

Friday, October 05 08:42:56

European shares opened higher today, keeping within their recent range, as investors positioned for a sentiment boost from key U.S. jobs data later in the day. The pan-European FTSEurofirst 300 index was up 0.5 percent at 1,104.22 points by 0703 GMT. Cyclical basic resources and oil & gas stocks led gainers with the market expectig U.S. non farm payrolls (NFP) data, due at 1230 GMT, to show the world's largest economy was picking up traction again.

Jobs likely increased by 113,000 last month, even though the jobless rate likely ticked up to 8.2 percent from 8.1 percent in August. "A good NFP reading could help German, French or UK stocks but Italy and Spain are more focused on the European problems so if there are problems in Spain they're going to be left behind," a trader said. Appetite for equities has been capped by uncertainty over Spain's debt crisis as Madrid hesitated over asking for a bailout that would pave the way for monetary support from the European Central Bank. ( C) Reuters