EDINBURGH, June 6 Periphery blue chips led
European shares towards their eighth straight week of gains on
Friday, continuing to see uplift after the European Central Bank
eased policy further, though trade was cautious ahead of U.S.
Top Spanish and Italian shares rose 0.7
percent and 0.6 percent respectively, outstripping a 0.2 percent
rise on the pan-European FTSEurofirst 300.
Euro zone shares also rose on Thursday, led by banks in
peripheral countries, as the European Central Bank unveiled a
string of measures to fight low inflation and boost the currency
bloc's economy. Hopes that the ECB would act have fuelled
European stocks on their winning run.
"I think the ECB decisions were largely in line with what
the market was expecting, however the negative deposit rate is
certainly a brave move for the ECB and hinting that QE is a
possibility if necessary should be very welcome news," Mark
Ward, head of execution trading at Sanlam Securities, said.
"These measures however, should have been implemented long
ago... (and) it feels like the market us running out of steam."
Trade may be cautious ahead of a U.S. jobs report which is
considered more uncertain than usual.
While the median forecast is for a solid jobs gain of
218,000 when U.S. nonfarm payrolls is released at 1230 GMT,
estimates range from as little as 110,000 to as high as 325,000.
(Reporting by Alistair Smout; Editing by Lionel Laurent)