European Shares Close Higher After US Jobs Data

European shares closed higher on Friday after U.S. non-farms payrolls data showed the economy added 171,000 new jobs in October and unemployment steadied out at 7.9 percent.


The FTSEurofirst 300 Index provisionally closed up 0.4 percent at 1,113.85 points.

The Athens Stock Exchange closed sharply higher, after six consecutive days of losses. Spain's IBEX index also closed higher.

Asian shares rose on Friday as overnight data suggested some stabilization in the global recovery trend, particularly in the world's top two economies, the United States and China. Data from the U.S. on Thursday showed the pace of growth in the manufacturing sector rose to 51.7 in October — a reading above 50 indicates expansion.

In earnings on Friday, RBS released third-quarter figures showing better than expected operating earnings. However, it also announced an additional 400 million pounds had been set aside for compensating consumers who had been mis-sold payment protection insurance (PPI).

France-based Alcatel Lucent reported a second straight quarter of losses; its stock fell more than 6 percent.

Shares in Bumi made hefty gains on Friday after Reuters reported that Nat Rothschild is creating a consortium to buy the Indonesian coal miner from the Bakrie family.

German company Beiersdorf eleased third-quarter results. The maker of Nivea skin care products increased its revenue outlook for 2012 on Friday.

U.K.-based group Admiral released a trading report highlighting a drop in turnover by 2 percent for its third quarter; shares fell by more than 5 percent.