European stocks were seeing marginal gains on Friday amid concerns about a wider Middle East conflict and ahead of the all-important U.S. jobs report due later in the day that could shed additional light the health of the economy and rate outlook.
The pan European STOXX 600 was up 0.1 percent at 516.96 after falling 0.9 percent on Thursday.
The German DAX was marginally higher, and France’s CAC 40 rose 0.4 percent while the U.K.’s FTSE 100 slipped 0.2 percent.
Shipping firms such as Moeller-Maersk and Hapag Lloyd plunged 7 percent and 13 percent respectively, due to a worsening situation in the Middle East.
Hexagon Purus ASA shares were down nearly 16 percent. The Norwegian green automotive products provider said it has mutually agreed to terminate the 2024-27 deal with Daimler Truck Holding AG’ s (DTRUY) Daimler Truck North America to supply battery electric vocational vehicles.
Denmark’s DSV surged 6.7 percent after the logistics giant raised $5.5 billion in a share issue to partially finance its acquisition of Schenker.
Italian energy major Eni S.p.A. rose 1.3 percent after it secured the U.K. Government’s commitment and funding for the granting of an Economic License for the Liverpool Bay CO2 transport and storage or T&S project.
Alstom SA jumped 5.2 percent. The French rolling stock manufacturer has reaffirmed its annual EBIT margin guidance of around 6.5 percent, an improvement of around 80bps from prior year, helped by volume and mix, and initiates to reduce costs.
Sanofi rose 1.3 percent after Italian pharma group Recordati S.p.A., agreed with the French company to acquire the global rights to Enjaymo, the only approved treatment for people with cold agglutinin disease.
Energy giant BP Plc rose about 1 percent and peer Shell edged up slightly as oil prices remained on track for strong weekly gains due to a worsening Middle East conflict.
Watches of Switzerland Group rose more than 2 percent after it bought a New York-based watch enthusiast platform.
Pub behemoth J D Wetherspoon was marginally lower after unveiling its 2024 financial results.
European Shares Cling To Modest Gains Ahead Of US Jobs Data
2024-10-04 09:29:29
