European stocks see worst day of 2013 on U.S. jobs miss
LONDON (Reuters) - European shares fell on Friday to post their biggest daily fall of the year so far after U.S jobs figures came in much worse than expected.
The FTSEurofirst extended falls when the U.S. non-farm payrolls figure came in below even the rumoured weaker numbers that had circulated in morning trade, and which had triggered a breach of chart support for Germany's DAX.
U.S. employers hired 88,00 workers in March, under half the consensus figure from a Reuters poll of 200,00 and the slowest pace in nine months.
"It's a bad number, much worse than consensus or the whisper numbers that were being circulated," Joshua Raymond, strategist at City Index, said, referring to market talk of a non-farm payroll reading as low as 120,000.
By the provisional close, the FTSEurofirst was down 1.5 percent at 1,162.76 points, led by the travel and leisure sector, down 3.5 percent, amid concern about the impact on sales of a fresh outbreak of bird flu in Asia.
(Reporting by Alistair Smout)
- Tweet this
- Share this
- Digg this
- China building South China Sea island big enough for airstrip - report
- Pakistani family sentenced to death over "honour killing" outside court
- Bill Cosby says he does not have to 'answer to innuendos': report
- Hitler watercolour fetches 130,000 euros at Nuremberg auction
- China's rate-cut likely to hurt banks, curb new loans to small borrowers
Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/15 fiscal deficit target without cuts. Article