LONDON: European stocks fell slightly in opening trade on Friday as traders paused after the previous day's solid gains that followed forecast-busting US jobs data.
London's benchmark FTSE 100 index dropped just 0.03 percent to 6,862.82 points, the Paris CAC 40 index dipped 0.17 percent to 4,482.22 and Frankfurt's DAX 30 shed a marginal 0.007 percent to 10,028.71.
"European shares are trading little changed this morning, managing to hold on to yesterday's impressive gains on the back of a well-received US job report," said analyst Markus Huber at broker Peregrine and Black.
"Recently improving economic fundamentals especially in China and the US have generated renewed optimism that the globalyup recovery is not only continuing but also likely to accelerate in the months ahead, furthermore it has managed to overshadow escalating events taking place in Iraq and the Ukraine."
Markets had also risen Thursday after the European Central Bank kept its ultra-loose monetary policy in place. Asian equities meanwhile rallied on Friday after the United States said its economy created more than a quarter of a million jobs in June, sending Wall Street to new records.
The world's number one economy added 288,000 jobs last month, while the unemployment rate fell to 6.1 percent from 6.3 percent in May, the US Labor Department said Thursday.
The closely watched figures were well above expectations of 215,000 and add to the sense that a recovery is well on track. They also soothed any lingering concerns some dealers may have had after last month's downgrade of first-quarter economic growth estimates.
Wall Street topped the week off on a high, with the Dow and S&P 500 hitting a record for the third straight session. The Dow jumped 0.54 percent to end above 17,000 for the first time, while the S&P 500 gained 0.55 percent. The Nasdaq added 0.63 percent. US markets are closed on Friday for the Independence Day public holiday.
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