European stocks flat
Thursday, 3 January 2008
PARIS, Jan 2 (Reuters): European shares were flat in early trade Wednesday, having opened in the red, but investors remained cautious ahead of Friday's US monthly jobs data, which will shed light on the health of the world's biggest economy.
Among top gainers, French state-controlled airports operator Aeroports de Paris surged 6.0 per cent on a newspaper report, later confirmed by Vinci, that the concessions and construction group had bought a 3.30 per cent stake in the company.
By 0940 GMT, the FTSEurofirst 300 index of top European shares was barely changed at 1,506.4 points, after losing as much as 0.50 per cent in the first few minutes of the session.
Europe's benchmark index closed 2007 with a gain of 1.60 per cent, its worst performance since 2002 as a global credit squeeze hit financial stocks.
Investors will wait for the US non-farm payrolls data for December before making any move, said Jean-Francois Virolle, chief strategist at Global Equities, in Paris.
"People are trying to figure out if the US economy will slip into recession. They are also trying to figure out if the credit crisis will last, which I think it will," he said.
Among top gainers, French state-controlled airports operator Aeroports de Paris surged 6.0 per cent on a newspaper report, later confirmed by Vinci, that the concessions and construction group had bought a 3.30 per cent stake in the company.
By 0940 GMT, the FTSEurofirst 300 index of top European shares was barely changed at 1,506.4 points, after losing as much as 0.50 per cent in the first few minutes of the session.
Europe's benchmark index closed 2007 with a gain of 1.60 per cent, its worst performance since 2002 as a global credit squeeze hit financial stocks.
Investors will wait for the US non-farm payrolls data for December before making any move, said Jean-Francois Virolle, chief strategist at Global Equities, in Paris.
"People are trying to figure out if the US economy will slip into recession. They are also trying to figure out if the credit crisis will last, which I think it will," he said.