Dubai - Energy stocks rallied, leading a third day of gains for European equities as crude prices bounced. Treasuries halted the longest losing streak in five years before a US jobs report expected to bolster the case for a rate hike next week.
The yield on 10-year US Treasuries fluctuated before edging lower for the first time in 10 days. Crude’s advance from a three-month low wasn’t enough to climb above $50 a barrel, but it boosted oil and energy shares in Europe. Gold slid below $1 200 per ounce, dropping for a fifth day, its longest losing run since October.
Friday’s American jobs report is the last major piece of economic data before the Federal Reserve meets next week, with markets pricing a rate increase as a near certainty.