Europe shares buoyed by U.S. jobs data; banks up

LONDON, April 1 (Reuters) – European shares hit its highest
close in just over three weeks on Friday after strong U.S. jobs
data supported the view the global recovery was intact while
technicals pointed to a bullish trend.

The pan-European FTSEurofirst 300 (.FTEU3: Quote, Profile, Research) index of top
shares provisionally closed up 1.5 percent at 1,141.47 points.
Technicals looked bullish after the euro zone’s blue chip Euro
STOXX 50 (.STOXX50E: Quote, Profile, Research) index moved above its 50-day moving
average, but fund managers said to be stock selective.

“U.S. nonfarm payroll data seems to be continuing in the
right direction and the unemployment rate is coming down,”
Veronika Pechlaner, an investment manager on the 100 million
euro ($141.5 million) Ashburton European equity fund.

“But, we are still selective on consumer stocks as wage
inflation is still not coming through.”

Financial stocks featured among the best performers and
buyers came for Bank of Ireland (BKIR.I: Quote, Profile, Research) up 40.9 percent and
Allied Irish (ALBK.I: Quote, Profile, Research) 8.3 percent higher.
(Reporting by Joanne Frearson)

Europe shares buoyed by U.S. jobs data; banks up