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Title: European shares set to end bumpy week with gains

Dec 03, 2021 05:36AM ET

By: AnalysisWatch

European stocks edged higher on Friday, set to end a volatile week with a gain as investors bought stocks pressured by Omicron-related fears, although gains were largely muted ahead of monthly US jobs data.

The pan-European STOXX 600 index rose 0.1 percent after fluctuating between losses and gains all week due to concerns about the potential impact of a newly discovered coronavirus variant on economic recovery.

European stocks are relied upon to end the week with unobtrusive additions as the market viewpoint is obfuscated by new limitations because of the new variation and expanding value strain in front of winter.

At its meeting this month, the European Central Bank may set policy for a relatively short period at its meeting this month amid heightened uncertainty, President Christine Lagarde told Reuters.

However, Lagarde reiterated the view that inflation will fall in 2022, adding that it may have already peaked.

All eyes are on US labor market data, which is expected to show that employers stepped up hiring in November, giving the economy a strong boost, although labor shortages remain a drag.

IHS Markit's survey showed that economic activity in the eurozone accelerated last month, but the upturn could be temporary as demand growth weakens and fears about the Omicron coronavirus put a damper on optimism.

Among individual stocks, Dassault Aviation rose 8.3% to top the STOXX 600 after France signed a contract with the United Arab Emirates for 80 Rafale fighter jets, the largest order ever for the fighter.

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