European Factors to Watch-Shares seen edging up ahead of U.S. payrolls

viernes 4 de abril de 2014 02:16 GYT

LONDON, April 4 (Reuters) - European stocks were seen rising for a ninth consecutive session on Friday, as traders bet on further support from U.S. jobs data due later in the day.

At 0604 GMT, futures for the Euro STOXX 50, Britain's FTSE 100 , Germany's DAX and France's CAC were up between 0.1 and 0.3 percent.

The pan-European FTSEurofirst 300 index has risen for eight consecutive sessions, its longest winning streak since October 2013. Then, the index surged for nine days, clocking its best run since 2010, Datastream showed.

The last 10-day unbroken rally on the FTSEurofirst dates back to 2006, before the global financial crisis.

Non-farm payrolls data due at 1230 GMT were expected to show U.S. job growth likely accelerated in March as the winter's gloom started to lift, providing the strongest signal yet that the world's largest economy was shifting into higher gear.

Underpinning investor appetite ahead of the data release were suggestions by the Federal Reserve's chair Janet Yellen earlier this week that the bank's ultra-easy policy would be needed for some time. The European Central Bank's president Mario Draghi also boosted the market mood by opening the door to unconventional stimulus measures.

"We're pretty upbeat about the payrolls," Fahran Ahmad, a trader at Tradenext, said.

Non-farm payrolls were expected to have increased by 200,000, the largest gain in four months, according to a Reuters poll of economists.

"We expect a strong U.S. payroll number today as the jobs market recovers from the winter period, which should give the healthy market tone and the dollar another boost," analysts at Credit Agricole wrote in a note, adding they expected non-farm payrolls to have risen by 225,000 in March.   Continuación...