Markets: 8th January

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Markets: 8th January

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European shares finished the day up having earlier reacted badly to the unexpectedly weak US employment figures.

They initially dampened hopes for a rebound in the labour market there and a stronger, faster recovery.

But analysts said the fact that November’s figures were revised up, and showed a gain, made December’s seem less terrible and the trends did not look too bad.

Another factor, German exports rose more than economists forecast in November.

Banks were the best performers.

BNP Paribas, Barclays, Deutsche Bank, Societe Generale, UBS and UniCredit all rose after analysts at UBS recommended buying into the sector.

Energy companies were the biggest drag as crude oil slipped by more than half a percent.

Total, BP and Royal Dutch Shell fell.

The dollar and raw material prices also declined.