US jobs picture lifts shares

of higher interest rates in Europe and a rising oil price kept other world markets on edge.
The focus for the day was on the US jobless report
to be released later, with analysts expecting employers to have hired more workers in February than in any month since May last year.
That would feed into the widespread belief that the US economy is in recovery mode and that the improvement should soon trickle down into lagging consumer sentiment.
At the same time, however, improved global growth is raising inflation pressures, particularly threatening at the moment with Middle East and
North African political turmoil driving oil prices to levels that could hurt recovery.
Brent crude futures for April delivery were up US$1,41 to US$116,20 a barrel last Friday.
The prospect of higher inflation prompted the European Central Bank on Thursday to indicate it could raise interest rates as soon as next month, a hawkishness that stunned many in the market.
Stock markets were nonetheless relatively buoyant last Friday, lifted by economic optimism even if a number of market participants said it was a tenuous stance.
“Any shortfall in the US non-farm payrolls, or any flare-ups on the geopolitical front could see the risk appetite ebbing away once again,” said Chris Weston, institutional trader at IG Markets.
World stocks as measured by MSCI were up 0,4 percent, taking the index up nearly 1,5 percent for a highly volatile week.
The FTSEurofirst 300 was up 0,6 percent and Japan’s Nikkei gained 1 percent.
The euro traded near a four-month high against the dollar, held there by the competing push-pull of higher euro zone interest rates and a stronger US economy. – Reuters.