European markets close higher

The markets in Europe closed at a higher level as investors parsed through several releases, including US job data.

The pan-European Stoxx 600 ended the week with a hike of 0.67% with every sector bar telecom in the positive territory. All the major bourses closed in the black, barely changed for the week, while the Stoxx 600 rose 0.2%.

Meanwhile, in the US, stocks moved higher despite a disappointing jobs report. Non-farm payrolls increased by 1,56,000 in August, below expectations of 1,80,000. In Europe, the media was among the best performing sectors on earnings news and ratings upgrades. Basic resources were also higher on positive data from China. The Caixin China Manufacturing PMI for August hit a six-month high of 51.6.

In the UK, the Manufacturing Purchasing Managers’ index rose to a four-month high of 56.9 in August. Across the euro zone, the PMI for manufacturing confirmed an earlier reading of 57.4 for August. Meanwhile, the dollar index, which measures the greenback against a basket of major currencies, had changed little ahead of the US’ jobs report.
 
 

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