European stocks finished higher after US jobs report misses expectations

European stock markets closed higher Friday after official U.S. jobs data for August fell short of expectations, a factor that could influence when the U.S. Federal Reserve next hikes interest rates.

The pan-European STOXX 600 index closed 2.1 percent higher on the day and 2.0 percent higher on the week.

U.S. nonfarm payrolls for August came in at 151,000 new jobs, worse than the forecast 180,000. The payrolls report is a key one for the Fed and the weak number may push the central bank to delay the next rate hike beyond this month.

This thought spurred Wall Street on Friday, which in turn boosted European stocks.

The U.K.’s benchmark FTSE 100 index closed around 2.6 percent higher. The France’s CAC ended 2.4 percent higher, while the German DAX was up 1.4 percent.

European stocks were also boosted by a rally in crude oil prices. This saw Brent and light crude futures trade 2.9 percent higher at around $46.80 and $44.40 per barrel respectively when European stocks markets closed.

There were no major European earnings or data releases on Friday.

The standout performer among major European stocks was Amec Foster, with the mining project management company closing around 7.3 percent higher after it said it was receiving more inquiries.

Meanwhile, Carnival was one of the worst performers following a Morgan Stanley downgrade, which pushed the stock to close down 4.0 percent.

Source: CNBC