European shares rebound ahead of U.S. jobs data
* FTSEurofirst 300 up 1 pct
* Investors position for acceleration in U.S. jobs growth
* German industry orders lift sentiment
By Francesco Canepa
LONDON, Dec 5 (Reuters) - European shares rallied on Friday, recouping most of their previous day's losses, as strong German factory orders and expectations for upbeat U.S. jobs data later in the day revived investor appetite.
At 0855 GMT, the pan-European FTSEurofirst 300 was up 1 percent at 1,394.65 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.
German industry orders rose far more than forecast in October and though the country's central bank dampened the mood by slashing its growth forecasts for Europe's largest economy, its president said there were signs current weakness would soon be overcome.
U.S. jobs data due at 1330 GMT was expected to show employment growth likely accelerated a bit in November. Non-farm payrolls were forecast to have increased by 230,000 jobs last month after rising by 214,000 in October, according to a Reuters survey of economists.
Traders said a number in line with consensus would keep market expectations for continued U.S. growth on track while not fuelling concerns about an early hike in Federal Reserve interest rates. Continuación...