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By 3 Min Read* The U.S. jobs data will be the next stimulus for investors, according to an analyst* Volkswagen is up on the best first-half U.S. sales since 1973* Weekly reductions in travel and leisure (Includes comments and a graphic; prices are updated throughout.) Reuters, July 2 – European stocks gained on Friday, boosted by semiconductor makers, as investors awaited the release of the United States’ carefully regarded monthly jobs report later in the day. The STOXX 600 index surged 0.5 percent throughout Europe, with technology stocks up 1.0 percent. The STOXX 600 is expected to finish the week unchanged. ASML Holding NV gained 1.5 percent after Micron Technology Inc stated it will begin employing ASML EUV equipment in production in 2024, while ASM International NV gained roughly 2.0 percent as it predicted greater order intake in the second quarter. Market participants are now waiting for data that will most likely show that job growth in the United States picked up in June, as companies, desperate to boost production and services in the face of booming demand, raised wages and offered incentives to entice millions of unemployed Americans back into the workforce. “The next catalyst for investors to look forward to will be today’s U.S. jobs report, which could provide some insight on the state of the recovery as well as the Federal Reserve’s expected monetary policy intentions,” said Jim Reid, head of Deutsche Bank’s thematic research. By 0800 GMT, most major European sector indices were trading higher, with travel & leisure leading the charge and recouping some of the week’s losses. Despite fears about travel limitations as a result of the fast-spreading Delta strain of the coronavirus, the index nonetheless led weekly falls across sectors. As data indicators throughout the week revealed a vaccine-led economic recovery, the STOXX 600 is currently just a hair’s breadth away from a record high set in June. According to a judicial source, France’s SMCP recovered early losses to gain 0.4 percent after the business, along with Zara owner Inditex, became the focus of an investigation for allegedly hiding “crimes against humanity” in China’s Xinjiang region. Volkswagen AG gained 0.5 percent after reporting that its U.S. arm sold more than 211,000 cars in the first half of 2021, the most in nearly 50 years. Ambu’s stock dropped 14% to the bottom of the STOXX 600 index after the single-use medical equipment producer lowered its earnings forecast. Producer pricing data for the euro zone for the month of May is also expected to be issued at 0900 GMT. Shreyashi Sanyal contributed reporting from Bengaluru, and Shounak Dasgupta edited the piece./nRead More

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