EUROPE MARKETS: European Stocks Rise As German Unemployment Falls

By Carla Mozee, MarketWatch

LONDON (MarketWatch) -- European stocks rose Thursday, with German equities gaining traction after better-than-expected labor-market data from Europe's largest economy.

In February, the number of jobless people in Germany declined by a seasonally adjusted 20,000, while analysts polled by The Wall Street Journal had expected a drop of 10,000.

"Falling oil prices and low inflation have certainly aided the economic engine of the eurozone," said Naeem Aslam, chief market analyst at AvaTrade, in a note. The German data is also "good news for [European Central Bank President Mario] Draghi, who has already confirmed that he sees the signs of confidence bouncing back in the eurozone."

Stocks: After wading slightly in the red, Germany's DAX 30 swung higher by 0.2% to 11,231.40 following the data. Advancers were led by a 2.8% rise in Fresenius Medical Care AG & Co. . But shares of Allianz SE were down 2.2% as fourth-quarter profit at the insurer fell (http://www.marketwatch.com/story/allianz-raises-dividend-though-4q-profit-falls-2015-02-26), hurt by the performance at its bond fund Pacific Investment Management Co.

The move higher in German stocks helped push the Stoxx Europe 600 up by 0.2% to 387.73.

France's CAC 40 also came off session lows, tacking on 0.1% to 4,889.14.

But the FTSE 100 darted between small gains and losses, recently slipping less than 1 point at 6,934.80. Shares of Reed Elsevier PLC dropped 4% after the publishing and exhibitions company posted a fall in full-year net profit and revenue (http://www.marketwatch.com/story/reed-elsevier-full-year-profit-falls-2015-02-26-2485424).

In economic news from the U.K., fourth-quarter gross domestic product growth of 0.5% was confirmed by the Office for National Statistics.

Meanwhile, Greece's Athex Composite shed 1.5% to 909.02 and Russia's Micex tacked on 0.1% at 1,747.42.

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