European shares cheered by strong U.S. jobs data

LONDON, Oct 5 (Reuters) - European equities powered higher on Friday, propelled by a strong U.S. jobs report which reassured investors about the health of the global economy and opened the door for a further short-term leg up in miners and industrials.

The U.S. unemployment rate unexpectedly dropped to its lowest level in nearly four years in September, in a bout of good news for European corporates increasingly looking abroad for profits as much of their domestic region faces recession.

That helped the pan-European FTSEurofirst 300 provisionally finish 1 percent higher at 1,111.18 points, while the EuroSTOXX 50 index of euro zone blue chips gained 1.8 percent to 2,529.96 points .

"The figures were better than expected and it's carrying markets up. Equities can still rally in the short term, ... may be a couple of percent more," said Peter Garnry, equity strategist at Saxo Bank.

Autos , banks and basic resources were among the top gainers thanks to their sensitivity to risk appetite and global economic health.

(Reporting By Toni Vorobyova; Editing by Emelia Sithole-Matarise)

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