The pan-European Stoxx 600 index closed 0.3% higher. The U.K.’s FTSE 100 index hit a record high after the pound fell following U.S. jobs data. British stocks typically rise with a weak pound as it makes exports more competitive. Big oil majors on the benchmark collect their revenues in dollars. Additionally, the Bank of England also hiked rates by half a percentage point on Thursday.
Meanwhile the U.S. jobs report came in much stronger than expected, with nonfarm payrolls increasing by 517,000 versus the Dow Jones estimate of 187,000. Treasury yields jumped higher on the news as stock futures fell.
Back in Europe, the composite Purchasing Manager’s Index showed euro zone business activity returned to growth in January for the first time in six months, adding to hopes the bloc will avoid a recession.
Shares in Asia-Pacific were mixed on Friday as Adani Enterprises briefly plunged, continuing a sell-off triggered by allegations raised by short seller firm Hindenburg.
