Traders work at their desks in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany, September 2, 2016. REUTERS/Staff/Remote
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The surge in equities after U.S. data signaled the labor market is steady sent European shares toward their highest levels since April. The Stoxx Europe 600 Index rallied 2 percent at 4:41 p.m. in London, the most since June 29, with the advance gathering pace after the report. U.S. payrolls rose by 151,000 in August, following an upwardly-revised gain of 275,000 in July. The Stoxx 600 took its weekly gain to 2 percent, the most since July, with the volume of shares trading 17 percent greater than the 30-day average.Bets for an Fed hike in September slipped to 32 percent from 34 percent before the jobs data.Banks were set to post the biggest surge among industry groups this week, up 6.1 percent in the period – the most since July.
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