June 7, 2013 / 2:20 PM / 4 years ago

European shares extend gains in wake of U.S. jobs

PARIS, June 7 (Reuters) - European shares rose in late trade on Friday, extending initial gains that followed U.S. jobs data showing the economy was growing modestly but not enough to hasten a scaling back in the Federal Reserve's stimulus measures.

At 1412 GMT, the FTSEurofirst 300 index of top European shares was up 1.1 percent at 1,191.82 points, rising along with U.S. stocks.

The Euro STOXX 50 Volatility index, known as Europe's 'fear gauge', sank 9 percent, signalling a drop in investors' risk aversion.

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