European shares rebound tracking global sentiment on soft US jobs data
European shares opened higher on Wednesday, mirroring global sentiment as a soft U.S. labour market data firmed bets of a rate cut from the Federal Reserve, ahead of the European Central Bank's key rate verdict later this week.
opened higher on Wednesday, mirroring as a soft U.S. data firmed bets of a from the , ahead of the 's key rate verdict later this week.The pan-European was up nearly 0.5% as of 0723 GMT, rebounding from losses made in the previous session.
ended higher on Tuesday and broadly rose on Wednesday after data showed U.S. job openings fell in April, signalling an easing labour market and firming bets of a Fed rate cut.
Investor focus, however, remained on the decision on Thursday, where it is expected to ease borrowing costs by 25 basis points from the present record levels of 4%.
All major European sectoral indexes traded higher, led by a 1.7% advance in the retail sector as jumped 4.7% on better-than-expected current trading numbers in its first-quarter results.
Spain's benchmark IBEX outperformed the region's bourses, up 0.76%.
Markets now await the May PMI data for the zone due later in the day.
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Source: Stocks-Markets-Economic Times
