European shares steadied by gains in banks, industrials
(Adds details, updates prices)
* U.S. jobs growth worse than expected
* BNP Paribas rises after cost cutting plan
* Arcelor slumps on capital raising move
By Danilo Masoni
MILAN, Feb 5 (Reuters) - European equities were steady on Friday as a rise in the shares of major banks and industrial companies offset a fall in stocks such as defence group Finmeccanica and steelmaker ArcelorMittal.
European stock markets initially turned lower after the publication of weaker-than-expected U.S. jobs data, but then later stabilised.
Data on Friday showed that U.S. non-farm payrolls increased by 151,000 jobs last month and the unemployment rate was at 4.9 percent, the lowest since February 2008. Economists polled by Reuters had forecast employment increasing by 190,000 and the jobless rate steady at 5 percent.
While the weak U.S. jobs growth could raise concerns over the state of the world's biggest economy, it could also further undercut the case for a Fed interest rate hike in March. The U.S. central bank raised its short-term interest rate in December for the first time in nearly a decade. Continuación...