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Markets

European stocks rebound at open

Published Updated

imageLONDON: European stock markets mostly rebounded at the start of trading Friday ahead of key US jobs data and after tumbling the previous session on worries over weak Chinese growth.

London's benchmark FTSE 100 index rose 0.4 percent to 5,977.6 points compared with Thursday's close.

In the eurozone, Frankfurt's DAX 30 climbed 0.3 percent to 10,010.5 points and the Paris CAC 40 was flat at 4,404.2

Europe's main indices closed with losses of about 2.0 percent Thursday as signs of a dramatic slowdown in powerhouse China put fright into investors about the outlook for the world economy.

Asian stock markets meanwhile endured a volatile ride Friday.

Shanghai's main index closed up two percent but lost about one-tenth of its value over the week.

US stocks also tumbled Thursday ahead of Friday's closely watched monthly employment data from the Labor Department that is expected to show jobs growth slowed in December.

"It takes quite something to relegate the US employment report to a footnote in this week's trading activity, but the China induced volatility seen over the past few days appears to have done the trick," said Michael Hewson, chief market analyst at CMC Markets UK.

"As we come to the end of the week European equity markets look on course to post some of the worst weekly losses since the previous China induced volatility, seen last August."

Copyright AFP (Agence France-Presse), 2016

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