European stocks edge higher; UK election results, US payrolls in focus

Investing.com - European stock markets edged higher Friday, as investors digested the results of the U.K. general election ahead of the release of key U.S. employment data.The changing political climate in the U.K. will be at the forefront of investors’ attention Friday, after the opposition Labour Party surged to a comprehensive win in a parliamentary election, ending 14 years of often turbulent Conservative government.

U.K. stocks have gained, as has the pound, as investors appear to have judged that a period of intense market volatility, driven by political and economic tumult under the Conservatives, may be drawing to a close. This brings the second round of voting in the French parliamentary election, due on Sunday, into focus, after the success of the far-right National Rally in last weekend’s initial vote.

However, most attention economically will be on the U.S, monthly jobs report, as investors, returning from the Independence Day holiday, search for clues as to when the Federal Reserve will start its own rate-cutting cycle.) announced it will take an impairment charge of up to $2 billion after the sale of its Singapore refinery and pausing of construction of one of Europe's largest biofuel plants.

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