By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- European stock markets stayed mostly
higher in afternoon action on Tuesday after a mixed jobs report
from the U.S., showing fewer-than-expected jobs were added to the
economy in September, while the unemployment rate unexpectedly
dropped.
The Stoxx Europe 600 index traded 0.5% higher at 321.01, putting
it on track for a ninth straight day in positive territory.
Among top performers in the pan-European index, Gjensidige
Forsikring ASA rallied 7.8% in Oslo after the insurance firm posted
a 6% rise in third-quarter earnings per share.
Shares of Reckitt Benckiser Group PLC rallied 5.8% in London
after the consumer-goods company said it expects full-year revenue
growth to be at least 6% and full-year margins to be
maintained.
Pointing in the other direction, shares of Tele2 AB sank 12%
after the Swedish telecoms firm said it swung to a loss in the
third quarter and cut its long-term financial guidance.
More broadly, investors focused on the U.S. where data showed
148,000 jobs were added to the economy in September, below the
185,000 expected by economists polled by MarketWatch. The jobless
rate unexpectedly fell to 7.2% from 7.3% in August. The report was
scheduled to come out at the beginning of October, but was delayed
due to the government shutdown.
U.S. stock futures pointed to a higher open on Wall Street.
In Europe, France's CAC 40 index gained 0.4% to 4,294.12, on
track for the highest close in more than five years.
Germany's DAX 30 index added 0.7% to 8,929.47, eyeing an
all-time closing high. The U.K.'s FTSE 100 index gained 0.5% to
6,687.78, setting it on track for the best level since May.
BHP Billiton PLC (BHP) climbed 3.8% in London after the miner
raised its outlook for full-year iron-ore production, signaling
confidence that China's rapid industrialization will continue to
lift demand for natural resources.
Shares of ARM Holdings PLC (ARMHY) gained 0.5% as the microchip
designer posted a rise in third-quarter profit and said it has a
record order backlog going into the final fiscal quarter.
Shares of Novartis AG added 1.8% after the drug maker raised its
full-year outlook for the second consecutive quarter after a
generic version of its blockbuster blood-pressure drug was
delayed.
Swedbank AB climbed 4.3% after the bank posted an increase in
third-quarter profit, boosted by rising net interest-income. It
also said there are signs that the global economy is improving.
Stora Enso Oyj dropped 3.8% after the pulp and paper firm said
fourth-quarter sales and operational EBIT will be lower than the
levels seen in the same quarter last year.
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