Europe shares, oil snap four-day losing streaks

Traders work at their desks in front of the German share price index, DAX board, at the stock exchange in FrankfurtEuropean stocks and oil prices snapped a four-day losing streak on Thursday and a rally in bond markets fizzled out as investors began to position themselves for U.S. jobs data. The pan-European FTSEurofirst 300 index , which had fallen 1.2 percent to its lowest level in nearly a month in the previous session, rebounded 0.3 percent as firmer oil prices helped lift the region's big producers. Prime Minister Shinzo Abe said on Wednesday that Japan would act if necessary to weaken the yen, while the dollar has been supported by data which has fanned optimism that the U.S. economy could bounce back after nearly stalling this year.



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Strong U.S. services sector data buoys economic outlook

David Wallace of Lockheed Martin interviews an applicant at a job fair held by the U.S. Chamber of Commerce and the Washington Nationals baseball club in WashingtonThe U.S. services sector expanded in April as new orders and employment accelerated, bolstering views that economic growth would rebound after almost stalling in the first quarter. Economists say strong services industry activity together with a rebound in automobile sales in April reported on Tuesday, underscore the economy's firm fundamentals that could keep the Federal Reserve on track to raise interest rates twice this year. If Friday's payrolls report corroborates that trend, a June rate hike certainly remains an option," said Harm Bandholz, chief economist at UniCredit Research in New York.



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Wall St. falls as data adds to growth worries; biotechs down

Traders work on the floor of the NYSEU.S. stocks declined for a second day on Wednesday, weighed down by tepid data on private sector U.S. jobs and a retreat in biotech shares. The Nasdaq Biotech Index dropped 2.9 percent, its seventh session of losses out of the last eight. The ADP private sector employment report showed hiring in April fell to its lowest in three years.



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