Markets

European Stocks Close Higher as Unemployment Falls Across Eurozone

European stocks closed higher for the third consecutive trading day of the week on Wednesday buoyed by a decline in unemployment, virtually unchanged inflation and a jump in the number of private sector jobs in the US.

The euro area seasonally-adjusted unemployment rate was 11.0% in August 2015, stable compared to July 2015, and down from 11.5% in August 2014, according to Eurostat, the statistics agency of the European Union.

Euro area annual inflation is expected to be -0.1% in September 2015, down from 0.1% in August 2015.

In the US, payroll provider ADP reported that 200,000 new jobs had been added to the private sector in September, representing a positive step forward for the world's largest economy. Official data on employment rates will be published by the US Labor Department on Friday.

In company news, supermarkets were among the biggest gainers on London's FTSE 100 Index with Sainsbury, Tesco and Morrison (wm) Supermarkets 13.8%, 7.0% and 6.4% higher, respectively. Commodities stock Glencore gained 14.1% and financial services company Aviva rose by 5.5%.

On Frankfurt's DAX, airline company Deutsche Lufthansa rose by 6.3%, semiconductor company Infineon Technologies rose 5.2% and electricity and gas company RWE expanded by 4.2%.

And, on the CAC-40, automobile company Peugeot rose by 6.4% while supermarket chain Carrefour expanded by 4.6%. Automotive supplier Valeo was 5.7% higher and luxury goods company LVMH Moet Hennessy Louis Vuitton advanced by 4.6%.

The FTSE 100 closed 2.58% higher, the DAX jumped 2.22% and the CAC-40 expanded by 2.57%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More