European Shares Gain Before US Jobs Data

(RTTNews) - European stocks traded higher on Friday ahead of the release of U.S. non-farm payroll report later in the day and next week's U.S. presidential election.

The pan European STOXX 600 rose half a percent to 507.66 after falling 1.2 percent on Thursday.

The German DAX edged up 0.3 percent, while France's CAC 40 and the U.K.'s FTSE 100 both were up around half a percent.

Eurozone bonds remained mostly unchanged as signs of accelerating Eurozone inflation raised speculation the European Central Bank will likely adopt a more cautious approach to rate cuts.

The British pound was steady after Chancellor of the Exchequer Rachel Reeves said her budget will put U.K.'s public finances on a stable and solid trajectory.

Also, data showed earlier today that house price inflation in the U.K. eased for the first time in six months in October.

Technology stocks such as SAP and ASML Holding were seeing modest gains after Amazon and Intel issued strong guidance.

Shares of Solid State, a specialist value-added component supplier, jumped 4.4 percent in London after the company announced the acquisition of Q-Par Antennas USA LLC for a maximum consideration of up to $2.0 million.

Consumer goods conglomerate Reckitt Benckiser soared nearly 10 percent after it was cleared of liability in a trial regarding its baby formula.

China-related luxury stocks such as LVMH and Herms were seeing modest gains as a private survey showed activity in China's manufacturing sector rebounded in October after a dip into contraction the previous month.

Siemens rose about 1 percent on reports that the German conglomerate is eyeing more acquisitions after its $10.6 billion purchase of U.S. industrial software company Altair.