European Stocks Jump on Release of Upbeat US Employment Report

By Investors Hub

European stocks have moved mostly higher on Friday following the release of the upbeat U.S. employment report. While the French CAC 40 Index has risen by 0.5 percent, the U.K.?s FTSE 100 Index and the German DAX Index are both up by 0.2.

Geoscience company CGG has jumped in Paris after its fourth quarter net loss narrowed from last year.

Meanwhile, French media group Lagardere has plummeted after posting disappointing annual results.

Inmarsat has also tumbled after the British satellite company cut its dividend after its fourth quarter profit after tax plunged 51.3 percent to $32.7 million from last year’s $67.1 million.

On the data front, German industrial output fell 0.1 percent month-on-month in January, confounding expectations for an increase of 0.7 percent, figures from Destatis revealed.

Another report showed that Germany’s exports and imports both declined in January from the previous month.

French industrial production fell 2 percent in January from December, when it climbed 0.2 percent, figures from the statistical office Insee showed.

U.K. industrial activity improved in January but missed expectations.