Europe stocks rise early; eyes on U.S. payrolls

PARIS, April 1 (Reuters) – European stocks rallied on their
first session of the quarter on Friday, as investors bet that a
strong reading of U.S. payrolls would eclipse recent jitters
over the euro zone debt crisis and violence in the Arab world.
At 0711 GMT, the FTSEurofirst 300 (.FTEU3: Quote, Profile, Research) index of top
European shares was up 0.7 percent at 1,133.15 points. The
benchmark index ended the hectic first quarter with a tiny gain
of 0.3 percent.

“The market has been extraordinarily resilient in the face
of all the recent shocks, which is a signal of strong inflows,”
said Jacques Henry, analyst at Louis Capital Markets in Paris.

“In the latest data we saw a bit of outflows on the short
term, but I don’t think the positive tide in favour of stocks is
over.”

Irish financial stocks were in the spotlight, with Bank of
Ireland (BKIR.I: Quote, Profile, Research) up 22 percent, Allied Irish (ALBK.I: Quote, Profile, Research) down 6
percent and Irish Life (IPM.I: Quote, Profile, Research) down 45 percent after Ireland put
a 70-billion-euro price on protecting its banks from future
shocks on Thursday and promised a radical overhaul of the
sector.
(Reporting by Blaise Robinson)

Europe stocks rise early; eyes on U.S. payrolls