European stocks nudge higher at open

European sharemarkets have opened sightly higher, with key US jobs data due out later.

Europe's main stock markets have risen slightly at the start of trading, as traders looked ahead to key US jobs data after the shake-up to eurozone interest rates.

London's FTSE 100 index of top companies gained 0.11 per cent on Friday to stand at 6,821.06 points, compared with Thursday's closing level.

Frankfurt's DAX 30 inched up 0.06 per cent to 9,954.01 points and the CAC 40 in Paris edged 0.08-per cent ahead to 4,552.45.

Investors were turning their attention to the release later on Friday of US jobs data which will give an updated view of the state of the world's number one economy.

Wall Street indices closed at record-highs on Thursday and Asian stock markets closed mixed on Friday after the European Central Bank unveiled a batch of measures to kick-start the stuttering eurozone economy.

European stock markets had ended mixed on Thursday, winning only a brief boost after the ECB cut its key interest rates to new all-time lows as part of efforts to prevent eurozone deflation.

The central bank's announcements also only had only a brief impact of the euro, the strength of which has been contributing to deflationary pressures.

In a move hailed as "unprecedented" by analysts, the ECB lowered the rate at which it pays commercial banks for depositing their unused cash into negative territory for the time, cutting it from zero per cent to minus 0.10 per cent.

This means that banks will be charged for parking funds at the ECB in the hope they might lend it on to businesses and consumers instead.


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