European Stocks Close Higher Despite Mid-session Setback

(RTTNews) - Despite suffering a setback around mid afternoon on Friday after data showing a stronger then expected growth in U.S. non-farm payroll raised concerns about the outlook for U.S. interest rates, European stocks recovered amid high volatility to eventually end the day's session on a positive note.

Data showing a strong rebound in Germany's factory orders aided sentiment earlier in the session.

The pan European Stoxx 600 climbed 0.82%. The U.K.'s FTSE 100 gained 0.58%, Germany's DAX advanced 1.06% and France's CAC 40 surged 0.88%, while Switzerland's SMI ended 0.5% up.

Among other markets in Europe, Austria, Belgium, Denmark, Finland, Iceland, Netherlands, Poland, Portugal, Russia, Spain and Sweden closed higher.

Greece, Norway and Turkiye ended weak.

In the UK market, Aviva rallied 5.3%. The Times newspaper reported that at least two potential suitors are looking for a possible takeover of the insurance company.

CRH and Legal & General both gained about 3.3%. EasyJet, Entain, Ashtead, Halma, Auto Trader Group, Antofagasta, JD Sports Fashion, Berkeley, Anglo American Plc, Next, ICP, Melrose Industries and Royal Dutch Shell gained 2 to 2.5%.

Unilever and Rentokil lost 2.8% and 2.6%, respectively. Vodafone Group, Reckitt Benckiser, National Grid, Compass Group, J Sainsbury, Rolls-Royce Holdings and British American Tobacco ended lower by 1 to 2%.

In the German market, Zalando climbed 6.5%. HeidelbergCement, Puma, Daimler Truck Holding, Covestro, Infineon, Deutsche Post and Adidas gained 2 to 2.6%.

Siemens, Continental, Allianz, Munich RE, Commerzbank, BMW, Deutsche Telekom and Brenntag advanced 1.3 to 2%.

Symrise, Fresenius Medical Care, Siemens Energy, RWE, Mercedes-Benz, E.ON and Sartorius ended with sharp to moderate losses.

In Paris, Dassault Systemes, STMicroElectronics, Teleperformance, Bouygues, AXA and Credit Agricole gained 2 to 3%.

Renault, Saint Gobain, Capgemini, Michelin, Eurofins Scientific, Publicis Groupe, Hermes International, BNP Paribas, LVMH and Societe Generale surged 1.2 to 2%.

Shares of Dutch health care technology company Philips plunged nearly 7% after the U.S. FDA said it is not satisfied with how the company handled a major product recall.

Germany's factory orders rebounded at a stronger-than-expected pace in August reflecting the robust expansion in demand for computing, electronic and optical products.

Factory orders registered a monthly growth of 3.9%, in contrast to the 11.3% decrease in July, Destatis reported. Moreover, the rate was much better than economists' forecast of 1.8% growth. Year-on-year, the decline in manufacturing orders slowed to 4.2% from 10.1 percent in July, data showed.

France's trade deficit widened slightly in August, data from Bank of France showed. The trade balance posted a deficit of EUR 8.2 billion in August versus a shortfall of EUR 8.11 billion in July. In the same period last year, the trade deficit was EUR 14.75 billion.

UK house prices fell for the sixth straight month in September as higher interest rates weighed on mortgage affordability, survey data from the Lloyds Bank subsidiary Halifax and S&P Global showed. House prices slid 0.4% on a monthly basis in September. This was the sixth straight month of decline but markedly slower than the 1.8% fall in August.

Switzerland's unemployment rate held steady in September after rising slightly in the previous month, the State Secretariat for Economic Affairs, or SECO, said. The unadjusted unemployment rate came in at 2% in September, the same as in August.