European shares end stronger on firmer Fed rate-cut bets
European shares closed higher on Thursday as heightened expectations for a U.S. Federal Reserve interest rate cut lifted markets, while easing pressures on bond market also supported the main index.
The pan-European STOXX 600 jumped 0.66% to 550.39 points at the close, with gains led by the media and telecommunication indexes, up about 1.9% each.
Meanwhile, softer U.S. private payrolls data bolstered Fed rate cut bets as it showed private employment increased less than expected in August. Several Fed officials who spoke on Wednesday also pointed to rate cuts ahead.
Attention now turns to Friday's highly anticipated nonfarm payrolls data that could further consolidate market bets for a September rate cut.
European markets also calmed after risks tied to debt-driven fiscal spending in developed economies had triggered an equity market selloff earlier this week.
Euro zone bond yields cooled, with German 30-year bond yield down to 3.3439%. Its French counterpart eased to 4.402% after hitting its highest since June 2009 on worries that its government could collapse again.
Source : Reuters
