European Stocks Withstand Poor U.S. Jobs Report

Quote.com Saturday 4th June, 2011

(RTTNews) - European stocks battled back from steep early losses to finish little changed from the previous session, as bargain hunters shrugged off a dismal U.S. jobs report that fueled concerns about the underlying strength of the world's biggest economy.Indications that Greece is closer to a deal for additional funding from the European Union and International Monetary Fund helped bring a sense of calm to the markets.Reports said that Greece has agreed to 6.4 billion in austerity measures in return for a lifeline that will allow it to meet its financial obligations through 2013.The Euro Stoxx 50 index of eurozone blue chip stocks unofficially rose 0.16 percent. Still the regional benchmark was down more than one percent for the week. the Stoxx Europe 50 index, which includes some m...

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