US economic data on Thursday were quite positive. The Institute for Supply Management’s non-manufacturing index rose to 52.6 in December from 52.0 in November. The private sector added 325,000 jobs in December, the most since record-keeping began in 2001, according to ADP Employer Services. Initial claims for unemployment benefits declined 15,000 last week to 372,000, according to the Labor Department.
In the UK, the Markit/CIPS services PMI jumped to 54.0 in December from 52.1 in November.
Even the euro area had positive data to report. Industrial orders in the euro area rose 1.8 percent in October.
Despite the positive economic data, US stocks made only small gains on Thursday. The S&P 500 closed up 0.3 percent after having fallen earlier in the day on worries over Europe, where the STOXX Europe 600 fell 0.9 percent.
The fall in stocks in the euro area reflected continued concerns over the region's debt problems. Other than bunds, yields for eurozone sovereigns were mostly up on Thursday despite France managing to sell 7.96 billion euros of bonds.
Not so successful in selling debt was Hungary, who on Thursday again failed to sell its target amount.
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