LONDON: Europe’s main stock markets closed mixed on Friday, with London’s FTSE 100 index of top companies ending largely flat at 6,866.05 points.
Frankfurt’s DAX 30 closed down 0.20 per cent to 10,009.08 points, while the CAC 40 in Paris fell 0.47 per cent to 4,468.98 points, compared to Thursday’s closing levels.
The euro declined to $1.3591 from $1.3609 late on Thursday in New York, while the pound jumped to a new six-year dollar peak on expectations of a British interest rate hike.
“European shares are trading little changed, managing to hold on to yesterday’s impressive gains on the back of a well-received US job report,” said analyst Markus Huber at broker Peregrine and Black.
“Recently improving economic fundamentals, especially in China and the US, have generated renewed optimism that the globaly recovery is not only continuing but also likely to accelerate in the months ahead.
“Furthermore, it has managed to overshadow escalating events taking place in Iraq and the Ukraine.”
Markets had also risen on Thursday after the European Central Bank kept its ultra-loose monetary policy in place.
Wall Street enjoyed a record-breaking performance on Thursday after the United States said its economy created more than a quarter of a million jobs in June.
The world’s number one economy added 288,000 jobs last month, while the unemployment rate fell to 6.1 per cent from 6.3 per cent in May, the US Labor Department said.
The closely watched figures were well above expectations of 215,000 and add to the sense that a recovery is well on track.
They also soothed any lingering market concerns some dealers may have had after last month’s downgrade of first-quarter economic growth estimates.
In reaction, Wall Street topped the week off on a high, with the Dow and S&P 500 hitting a record for the third straight session.
The Dow jumped 0.54 per cent to end above 17,000 for the first time, while the S&P 500 gained 0.55 per cent. The Nasdaq added 0.63 per cent.
US markets will now remain closed for a long weekend for the Independence Day public holiday.
In Asia Friday, stock markets turned in a mixed performance as profit-taking set in.
Tokyo climbed 0.58 per cent and Sydney added 0.61 per cent, while Seoul ended marginally lower, Shanghai slipped 0.19 per cent and Hong Kong closed flat.
In London foreign exchange trades, the British pound rallied to $1.7180, the highest level since October 2008. It later stood at $1.7150, down from $1.7153 late in New York on Thursday.
The euro sank to 79.19 British pence, a level last seen in September 2012. In late morning deals, the single currency stood at 79.24 pence, down from 79.33 pence the day before.
On the London Bullion Market, the price of gold rose to $1,321.73 an ounce from $1,317.50 Thursday.
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