Europe Markets

Europe markets end mixed after US jobs report

Bets on for a Fed rate hike in December
VIDEO1:5101:51
Bets on for a Fed rate hike in December

European markets ended mixed on Friday after the latest U.S. jobs report showed far higher-than-expected growth in employment.

The pan-European STOXX Europe 600 index closed around 0.3 higher after the news, having traded lower for much of the session ahead of the data. London's FTSE closed around 0.2 percent lower and the French CAC ended flat. Germany's DAX outperformed peers to close almost 1 percent higher.

The U.S. nonfarm payrolls data showed that 271,000 jobs were created in October, rather than the 180,000 indicated by a Reuters poll of economists. The unemployment rate fell to 5.0 percent, slightly down on September's 5.1 percent figure.

U.S. stocks were range bound on Friday after a the jobs report increased confidence in the likelihood of a December rate hike from the U.S. Federal Reserve.

European markets


Earnings were also in focus in Europe. On Friday, German insurer Allianz posted a larger than expected 15 percent decline in net profit in the third quarter. Shares of the insurer closed around 1 percent.

One of the worst performers on the STOXX 600 was Richemont, which ended around 5.6 percent lower. The Cartier owner said it expected a challenging time in the second half of the fiscal year, after net profit in the first half to September grew less than expected.

In non-earnings corporate news, shares of Swiss agribusiness Syngenta closed around 4 percent higher after the Wall Street Journal reported that a merger with DuPont's agricultural division was under discussion.