European Stocks Recoup Losses After US Jobs Data

PAN PYLAS

LONDON (AP) — European stocks recouped most of their earlier losses and Wall Street futures turned higher Thursday after weekly U.S. jobless claims data stoked hopes that the pace of layoffs in the world's largest economy is easing.

The FTSE 100 index of leading was down 2.07 points, or less than 0.1 percent, at 5,105.82 while Germany's DAX rose 5.67 points, or 0.1 percent, to 5,449.90. The CAC-40 in France was up 9.06 points, or 0.3 percent, at 3,679.39.

Wall Street was poised to open higher. Dow futures were 25 points, or 0.3 percent, higher at 9,810 while the broader Standard & Poor's 500 futures rose 3 points, or 0.3 percent, to 1,050.

The expected advance in the U.S. came after the Labor Department said first-time claims for jobless benefits fell 20,000 to a seasonally adjusted 512,000. Economists had expected 523,000 new claims.

The jobless claims figures came as attention in the markets was turning towards Friday's U.S. nonfarm payrolls report for October. The jobs data often set the stock market tone for a week or two.