European stocks were little changed on Friday as a decline in utilities offset an advance in banking shares.
The STOXX Europe 600 Index rose less than 0.1 percent to 394.05 at 4:16pm in London, as investors considered whether a strengthening US recovery would bring forward a rate-increase decision.
The benchmark gauge earlier extended gains to as much as 0.7 percent after US payrolls in February beat economists’ predictions.
The jobless rate fell to an almost seven-year low.
US stocks dropped on speculation the US Federal Reserve is moving closer to raising interest rates.
“Stocks are influenced by risk of interest rises in the US because of a fairly strong economy over there,” said Peter Braendle, who manages about US$450 million at Swisscanto Asset Management in Zurich. “But the important thing is the US economic recovery is proceeding well and is running smoothly, and Europe can profit from that because they will need more goods and services, which will support the companies here.”
The STOXX 600 is poised for a fifth straight weekly gain, pushing gains this year to 15 percent, as the European Central Bank committed to start bond purchases next week.
Charming US President Donald Trump one week, angering China the next, Japanese Prime Minister Sanae Takaichi has had a busy start and is riding high in the polls, all on a few hours of sleep a night. However, the honeymoon might end soon for the Margaret Thatcher-admiring leader if a spat with China escalates further and she fails to keep inflation in check. “I believe Prime Minister Takaichi will surely do what she needs to do, so I trust her,” Kozue Otsuka, 50, told reporters at a festival this week for business owners seeking good fortune. While buying a lucky kumade rake featuring
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