By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- European stock markets staged
broad-based gains on Friday, as better-than-expected Chinese export
data fueled trading optimism and with investors now awaiting key
U.S. nonfarm-payroll data to gauge the state of the economic
recovery.
The Stoxx Europe 600 index rose 0.5% to 294.66, on track to
break a two-day losing streak.
Shares of Siemens AG (SI) gained 1.1%, after Citigroup added the
German conglomerate to its focus list with a buy rating. Citi cited
progress in its restructuring and the potential for increased
profitability and cash returns.
Pointing in the other direction, shares of Clariant AG dropped
2% as Nomura cut the chemicals firm to reduce from buy.
For the broader stock markets, bourses mirrored gains from Asia,
where upbeat export data from China lifted the mood. Exports in
February were 21.8% higher than they were a year earlier,
suggesting that the global economy is recovering as demand for
Chinese goods rebounds. See: China trade surplus narrows, but
exports rising
Investors were further looking to the U.S., where
nonfarm-payrolls data, due at 13:30 London time, or 8:30 a.m. U.S.
Eastern. will be closely watched for any indications that the U.S.
labor market is recovering.
U.S. stock futures pointed to a higher open on Wall Street.
Back in Europe, banks were among major advancers. Shares of HSBC
Holdings PLC (HBC) rose 1.7% in London, BNP Paribas SA added 2% in
Paris and Banco Santander SA (SAN) picked up 1.1% in Madrid.
Among country-specific indexes, the U.K.'s FTSE 100 index added
0.5% to 6,469.48, while France's CAC 40 index traded 0.8% higher at
3,823.07.
Germany's DAX 30 index gained 0.5% to 7,979.28.
Subscribe to WSJ: http://online.wsj.com?mod=djnwires