European credit spreads widen

European credit spreads widened on Thursday after data showed the number of US workers filing new claims for unemployment benefits hit a 26-year high last week. This data comes ahead of Friday's US unemployment report, which is expected to show job losses accelerated in January.
By 1625 GMT, the Markit iTraxx Crossover index, made up of 50 mostly "junk"-rated credits, was at 1,046.50 basis points, according to data from Markit, 8 basis points wider. The investment-grade Markit iTraxx Europe index was at 156 basis points, according to data from Markit, 2 basis points wider versus late on Wednesday.