European stock markets rebound

LONDON, Oct 3 (AFP): European stock markets recovered some lost ground on Friday following heavy losses the previous day, as investors looked ahead to key US jobs data.
London's benchmark FTSE 100 index gained 0.79 per cent to stand at 6,497.44 points around midday in the British capital and in Paris the CAC 40 was up 0.45 per cent at 4,261.74.
Frankfurt was closed for a public holiday, while Madrid gained 0.83 per cent and Milan climbed 0.64 per cent in value compared with Thursday's closing levels. Friday's focus was on the United States, with economists expecting on average that the world's biggest economy added 210,000 jobs in September after a disappointing 142,00 in August.
"With QE finishing up this month, in the US it is all about interest rate expectations when we look at" the jobs data, said Will Hedden at IG trading group.
"With the dollar retreating from its highs, a strong number north of 200,000 is expected to help push it back." In the US, the Federal Reserve is very close towards ending its quantitative easing (QE) stimulus programmeme.
The Fed is also expected to begin raising its ultra-low interest rates from next year as the US economy strengthens.
In foreign exchange trading, the euro fell to $1.2633 from $1.2667 late in New York on Thursday. The European single currency gained to 78.59 British pence from 78.46 pence, while the pound dropped to $1.6074 from $1.6144.
The price of gold dipped to $1,207.74 an ounce from $1,211.75 Thursday on the London Bullion Market.
Europe's stock markets had meanwhile plunged on Thursday after investors appeared disappointed at the limited extent of the European Central Bank's plans to launch its contested purchases programmemes.