European shares rise on robust US jobs data

European shares rallied in afternoon trade today after data showed US employers added more jobs than expected in April and as…

European shares rallied in afternoon trade today after data showed US employers added more jobs than expected in April and as US stock futures jumped.

By 1.40pm, the FTSEurofirst 300 index gained 0.25 per cent to 1,083.6 points after staying in the red for most of the session before the data was released.

The DJ Euro Stoxx 50 index was up 0.42 per cent at 3,017.0 points. Technology shares led the rise.

Data showed 274,000 new jobs were created in the United States last month and employers added more workers in each of the two preceding months than first thought.

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Economists said the report was likely to ease fears about growth in the world's largest economy.

The dollar rose, while US Treasuries slid after the payrolls data.

A Reuters survey of economists had forecast 170,000 jobs were created in April, up from March's disappointing 110,000.