By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- European stock markets trimmed gains in
midday trade on Friday after some lackluster employment data from
the euro zone affirmed that the region is still wrestling with
growth issues.
The Stoxx Europe 600 index added 0.1% to 290.78, after trading
as high as 292.27 ahead of the data. .
Shares of Renault SA put on 2.1% after Citigroup added the car
maker to its focus list.
Shares of Glencore Xstrata PLC gained 2.6% after the mining and
commodities trading firm signed a $17.3 billion revolving credit
deal, which replaces the previous revolving credit facilities of
both Glencore and Xstrata.
The broader European stock markets pared earlier gains, after
data showed the number of people employed in the euro area dropped
0.5% in the first quarter of 2013 compared with the same quarter
last year. Employment in Greece fell 2.3%, Portugal dropped 2.2%
and Spain and Cyprus both saw a 1.3% drop in employment.
The markets had opened on a strong note on signals the U.S.
Federal Reserve won't hike short-term interest rates in the near
future. Ahead of the central bank's policy-setting meeting next
week, a report in The Wall Street Journal said that Fed Chairman
Ben Bernanke is likely to reiterate that he expects a considerable
amount of time to pass between ending the bond-buying program and
raising short-term rates. The report also hinted that the Fed won't
end its asset purchases all at once.
Stock markets globally rallied to multiyear highs in May,
boosted by aggressive easing measures from central banks. However,
comments from Bernanke that the Fed could start tapering QE in
coming months if data continue to improve sparked a selloff at the
end of the month.
Among notable movers on Friday, shares of Hochtief AG jumped
5.8% after the construction-services firm said late Thursday it
will buy back up to 4.3 million of its own shares up to a price of
260 million euros ($346.9 million).
Shares of Yara International PLC gained 2% in Oslo after the
fertilizer firm said it is postponing a planned expansion of a
plant in Belle Plaine, Canada.
For the major country-specific indexes, Germany's DAX 30 index
picked up 0.6% to 8,140.57, while France's CAC 40 index rose 0.3%
to 3,808.30. The U.K.'s FTSE 100 index was slightly lower at
6,303.80.
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