REFILE-Tech stocks lift European shares after Hexagon-Cadence deal, US jobs data in focus

European stocks edged up on Friday ahead of a highly anticipated U.S. jobs report, while tech stocks got a lift, aided by Hexagon after the Swedish firm said it will sell its design and engineering unit to U.S.-based Cadence Design.

The pan-European STOXX 600 rose in early trade and was last up 0.3% at 551.68 points by 0703 GMT. The index was set for a marginally higher end for a week marked by volatility due to concerns regarding government fiscal stability. Technology stocks rose 0.9% and was among top sectoral performers, with Hexagon gaining 6.8%. The company's deal with Cadence was worth $3.16 billion and is expected to close in the first quarter of 2026.

Orsted lost 1.3% after the Danish wind farm developer cut its operating profit outlook for 2025, citing lower-than-normal wind speeds. Temenos tanked 13.4% after the banking software group parted ways with its CEO Jean-Pierre Brulard with immediate effect.

Focus is squarely on U.S. payrolls data for August, which is expected at 1230 GMT. Following reports earlier this week suggesting increasing labour market weakness in the U.S., Friday's report could be crucial for investors who have been pricing in a 25-basis-point Federal Reserve rate cut at its meeting later this month.

($1 = 0.8542 euros)

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