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Unilever soaring boosts European stock markets as traders digest US employment data.
European stock markets rose on Friday, ending a three-day decline, with Reckitt Benckiser achieving its largest gain in twenty-four years. The increase in the number of non-farm jobs in the USA was lower than expected, prompting investors to assess the economic outlook of the USA. At the close of London, the Stoxx Europe 600 index rose by 1.1%. Reckitt Benckiser's stock price surged by 12% at one point, marking the largest increase since March 2000, because a US jury ruled the company and Abbott Laboratories innocent in a lawsuit accusing them of concealing potential risks of premature infant formula. This also boosted the personal care sector. European stock markets recorded the largest monthly decline in a year in October, with a series of lackluster corporate earnings reports sparking concerns about the economy.