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European close: US jobs data lifts bourses
Wed, 08 Feb, 2012
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European close: US jobs data lifts bourses
Fri, 5 Mar 2010, 17:52:00
European markets posted good gains after a much better than feared read on US non-payrolls. The US jobs figures showed 36,000 jobs were lost in February, compared with forecasts of more than 60,000 or possibly even higher. The CAC-40 closed up 82 at 3,910 while the Dax in Frankfurt has gained 82 to 5,877. The Swiss market closed up 42 points at 6,847. Germany's chancellor <b>Angela Merkel</b> gave limited backing to Greece today ahead of a meeting in Berlin with Greek prime minister George Papandreou as civil unrest worsened over his latest austerity package. Police and protestors clashed violently in Athens over the plans unveiled on Wednesday and endorsed by the Greek parliament today. Car maker <b>Volkswagen</b> went well after Citigroup upgraded the shares to "buy" from "hold," while <b>Veolia </b> is down after the water utility missed forecasts with full-year net income of €584m. Sales were 3% lower. German steel maker <b>Salzgitter</b> posted a 2009 net loss of €386.9m on revenue that slumped 37% to €7.82bn. Elsewhere, in the defence sector, Italian firm <b>Finmeccanica</b> is wanted after reporting a 15% rise in net income in 2009 to €645m.
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