European Shares Tick Higher with US Job Figures

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Bloomberg – On Friday, European stock markets experienced a modest rise, continuing a ten-week trend of steady growth. Investors are keenly waiting for the US non-farm payrolls data, expected later in the day. The anticipation centers around forecasts predicting a 180,000 job increase last month, an improvement from the 150,000 jobs added in October. This news is particularly significant as it may influence the Federal Reserve’s decision on whether to continue with rate hikes.

European Shares

European Shares – UK 100 – 4H Chart

 

In the corporate world, there’s notable news from Anglo American, a major global mining firm. The company has announced its intention to cut costs across its operations, targeting a 4% reduction in production by the end of 2024. This move is a strategic effort to streamline its business.

Shell also made headlines due to revelations from a Nigerian presidential spokesperson. The spokesperson shared details about Shell’s ambitious plan, which involves a $5 billion investment in offshore oil projects in Nigeria. This development is a substantial undertaking in the energy sector.