According to Jinshi, European stocks rose for the fifth consecutive day as weaker-than-expected U.S. jobs data strengthened speculation that the Federal Reserve's rate hikes were over, and risk appetite generally rose, with investors pouring into sectors that have fallen sharply this year. Investors sold defensive sectors such as healthcare and turned to real estate and auto sectors. Interest rate-sensitive industries got a boost as swaps showed that the Federal Reserve is expected to cut interest rates by more than 100 basis points in 2024. Richard Carter, head of fixed-rate research at Quilter Cheviot, said: "While the decline in new jobs was expected, it was significantly lower than expected, which is difficult for the Federal Reserve to ignore and will be taken seriously in the next interest rate decision."