Visitors pass a sign inside the London Stock Exchange headquarters. The FTSE 100 index closed up 0.35% at 6,833.46 points yesterday.
AFP/London
European equity markets closed mixed yesterday ahead of the long Easter holiday weekend and on the eve of crucial US jobs data.
London’s benchmark FTSE 100 index of top companies ended the day up 0.35% to 6,833.46 points and the CAC 40 in Paris rose 0.24% to 5,074.14 points.
Frankfurt’s DAX 30 index dipped 0.28% to 11,976.39 points erasing Wednesday’s gains, hit partly by ongoing worries over Greece.
All three main European stock markets will remain closed today and Monday for public holidays, before reopening for business on Tuesday.
The region’s indices had risen slightly Wednesday on the back of upbeat manufacturing data in China and the eurozone.
“The business week finishes Thursday for many ahead of the extended Easter weekend; however, (US) non-farm payrolls are still to be released today,” said analyst Angus Campbell at trading firm FxPro.
US stocks pushed up yesterday as traders took a cautious stance with Wall Street also to be closed on Friday for the Easter weekend.
Around midday in New York, the Dow Jones Industrial Average added 0.11% to 17,718.23 points.
The broad-based S&P 500 gained 0.34% to 2,066.62, while the tech-rich Nasdaq Composite rose 0.17% to 4,888.73.
In foreign exchange activity on Thursday, the European single currency rose to $1.0874 from $1.0760 late in New York on Wednesday.
London’s market won a lift from news of rebounding fourth-quarter sales at retailer Marks & Spencer.
M&S shares rallied as much as 6.13% in early trades before closing up 4.43% at 554pence.
Asian stock markets climbed yesterday after the previous day’s losses, but expectations for a Federal Reserve interest rate hike were hit by weak US data.
Hong Kong advanced 0.77%, Tokyo jumped 1.46%, Shanghai rose 0.41% and Sydney rose 0.64% in value.
Analysts have warned of rocky weeks ahead after a strong rally across global equity markets in the first three months of the year, as Greece attempts to reform its bailout and oil prices struggle.
Expectations for an early summer US rate hike were also dashed Wednesday after data showed growth in the manufacturing sector slowed for the fifth straight month in March and construction spending dipped in February, led by a decline in public construction.
Yesterday’s data on US trade in February and initial claims for unemployment last week showed signs of strength in the economy.
But it was not clear how that would translate into the Labour Department’s March jobs report today, and traders will not have much chance to react to that until the beginning of next week.
