Europe: Stocks rise at open

EUROZONE stock markets rose at the open on Friday, tracking gains in Asia and on Wall Street ahead of a key US jobs data release.

The Frankfurt DAX was up 0.5 per cent at 14,557.50 points in early trading while the Paris CAC 40 was up by a similar rate at 6,530.24 points.

London was closed for a holiday.

Wall Street rose on Thursday on the back of weaker-than-expected US private jobs data, which raised hopes that the Federal Reserve may slow its tightening of monetary policy.

Investors will now turn their attention to the US non-farm payroll data due to be released later Friday.

While markets were buoyed by Thursday’s figures, Swissquote bank analyst Ipek Ozkardeskaya said the Fed “will certainly not change its mind on the soft jobs data”.

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“The era when the Fed threw money to the market to boost jobs is behind,” she said.

“We are in a new era, the era of high inflation, and the soft jobs will hardly stop the Fed from hiking the rates.”AFP