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European stocks slightly higher as investors await U.S. payrolls data; Philips down 9%

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European stocks moved slightly higher on Friday as market participants brace themselves for U.S. jobs data later in the session.

was up 0.3 by mid-morning, with insurance stocks adding 1.5% to lead gains as most sectors and major bourses nudged into positive territory. Food and beverage stocks bucked the trend to fall 1.8%, with investors fearful that if the tight labor market holds up the Federal Reserve could keep interest rates higher for longer.

Generative artificial intelligence — or the usage of generative models powered by AI to generate text, images, or other media — is taking the world by storm and it's not just the U.S. tech giants that are set to benefit, according to Morgan Stanley.

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European stocks slightly higher as investors await U.S. payrolls data; Philips down 10%European stocks moved slightly higher on Friday as market participants brace themselves for U.S. jobs data later in the session.
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