European shares extend gains on U.S. economic outlook

lunes 6 de octubre de 2014 07:34 GYT
 

* FTSEurofirst 300 up 0.5 pct, DAX catches up after holiday

* Nokia gains on hopes for the value of patents portfolio

* Recent drop in euro boosts shares in exporters

By Atul Prakash and Blaise Robinson

LONDON/PARIS, Oct 6 (Reuters) - European shares extended gains on Monday, building on the previous session's sharp rebound after stronger than expected U.S. jobs figures boosted stock markets worldwide.

German equities outperformed, with the DAX index rising 1 percent as the Frankfurt bourse caught up with the wider market after being closed on Friday for a public holiday.

At 1113 GMT the pan-European FTSEurofirst 300 index was up 0.5 percent at 1,353.20 points, having risen 0.9 percent on Friday's data showing that U.S. employers ramped up hiring in September and that the jobless rate fell to a six-year low. The jobs report is a significant gauge of the economy's health.

"The U.S. job numbers were reassuring. The way the market appears to be reacting to these numbers suggests that investors are more concerned about the growth outlook at this point in time than on possible interest rate hikes," HSBC equities strategist Robert Parkes said.

Among top gainers, Nokia rose 3.5 percent on hopes for the value of its patents portfolio after Microsoft announced on Saturday that Samsung Electronics paid it as much as $1 billion in smartphone patent royalties last year.   Continuación...