European shares rebound ahead of U.S. jobs data
LONDON Dec 5 (Reuters) - European shares rebounded on Friday, recouping some of the sharp losses suffered in the previous session, as investors positioned for strong U.S. jobs data which would underpin expectations about growth in the world's largest economy.
Estimate-beating German industrial orders also supported sentiment, adding to signs that Europe's largest economy is starting to pick up after a weak third quarter.
The pan-European FTSEurofirst 300 was up 0.8 percent at 1,391.50 points after falling 1.4 percent in the previous session, when the European Central Bank said any decision on further stimulus would be made next year.
U.S. employment growth likely accelerated a bit in November. Nonfarm payrolls probably increased by 230,000 jobs last month after rising by 214,000 in October, according to a Reuters survey of economists.
Analysts warned that a number too far above consensus would trigger speculation about an early rate hike by the Federal Reserve.
"Anything above 200k without being too close to 300k...should be supportive of stock markets," Jasper Lawler, a market analyst at CMC Markets, said. (Reporting By Francesco Canepa)
© Thomson Reuters 2016 All rights reserved.