European Stocks, U.S. Futures Rise Before Payrolls Report
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European stocks and U.S. index (SXXP) futures advanced before a report that may show the world’s largest economy added workers at a faster pace last month. The dollar strengthened and grains climbed.
The Stoxx Europe 600 Index rose 0.5 percent at 10:43 a.m. in London. Standard & Poor’s 500 Index futures gained 0.3 percent. The Nikkei 225 Stock Average (NKY) rallied 2.6 percent, closing above the level before Lehman Brothers Holdings Inc. filed for bankruptcy in September 2008. Confidence in European high-yield debt climbed to a 20-month high and corn rose. The U.S. currency advanced to its strongest level since August 2009 against the yen, while Italian and Spanish bonds gained.
The U.S. economy created 165,000 posts in February, while the unemployment rate stayed at 7.9 percent, according to economists surveyed by Bloomberg News. Japan’s gross domestic product grew at an annual rate of 0.2 percent in the three months through December, the country’s government reported today, compared with a preliminary calculation of a 0.4 percent contraction. China’s exports in February beat economists’ estimates, while imports plunged.
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