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European markets recover significantly

London - European stock markets rose solidly at the start of trading on Friday as investors looked ahead to key US jobs data and following heavy losses the previous day.

London's benchmark FTSE 100 index gained 0.77% to 6 495.72 points and the Paris CAC 40 index jumped 0.89% to 4 280.22 compared with Wednesday's close. Frankfurt was closed for a public holiday.

The focus was on the United States, with economists expecting on average that the world's biggest economy added 210 000 jobs in September, after a disappointing 142 00 in August.

Europe's stock markets had plunged on Thursday after investors appeared disappointed at the limited extent of the European Central Bank's plans to launch its contested purchases programmes.

The ECB as expected left its key interest rates unchanged, holding its main "refinancing" rate steady at 0.05% after cutting it last month.

And ECB chief Mario Draghi announced that the bank will start covered bond and asset-backed security (ABS) purchases, aimed at injecting cash into the stagnant eurozone economy.

But Europe's main stock markets sank on the news, with London's benchmark FTSE 100 index falling 1.69% to end the day at 6 446.39 points.

In Paris, the CAC 40 tumbled 2.81%, while Frankfurt's DAX index lost 1.99%. Other European exchanges also slumped with Madrid down 3.12% and in Milan the market lost 3.92%.
 

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