CORRECTED-UPDATE 2-U.S. data lifts European shares, but they log worst week in two months (Oct. 4)

(Corrects milestone in headline and third paragraph to show
European shares logged their worst week in two months, not one
year. Also corrects to show the STOXX 600 fell about 3% in the
week, not 4%, in the third paragraph.)
* STOXX 600 posts best day in over 3 weeks
* Defensive sectors seen favoured
* Data shows modest U.S. jobs growth
* Chipmakers rise on upbeat Apple report

By Susan Mathew and Agamoni Ghosh
Oct 4 (Reuters) - European shares ended a tumultuous week on
a high note on Friday as data showing modest U.S. jobs growth
lifted sentiment slightly, pushing a pan-region index to its
best day in more than three weeks.
The rally was led by sectors considered stable during times
of economic uncertainty such as healthcare .SXDP and food and
beverages .SX3P showing that worries still remain about the
health of the global economy.
A raft of weak economic data from the United States and
Europe, and threats of a transatlantic trade war between the
European Union and the U.S, had knocked European shares this
week, shaving nearly 3% off the pan-European STOXX 600 index
.STOXX in its worst week in two months.
On Friday, the index rose 0.7% as U.S. jobs data eased fears
about a sharp slowdown in the world's largest economy but it was
not strong enough for investors to dial back on expectations of
an interest rate cut by the U.S. Federal Reserve next month.
"For as long as the Fed's move looks to be on an easing path
I think equities are going to be gaining," said Andrea Cicione,
head of strategy at TS Lombard.
But he warned that the regional market may be getting ahead
of itself as data out of Europe has been weak.
Technology stocks .SX8P rose 1.3%, with chipmakers jumping
after a report said Apple Inc AAPL.O would increase its iPhone
11 production. Shares of chipmakers AMS AMS.S , Infineon Technologies
IFXGn.DE , STMicro STM.MI and Dialog Semiconductor DLGS.DE
jumped between 2% and 4.3%.
London-listed shares .FTSE rose after four sessions of
losses, but clocked their biggest weekly fall in a year, hurt by
fresh Brexit worries and recession fears. Euro zone shares
.STOXXE posted weekly losses not seen since early August.
Automakers .SXAP were the worst performers, down 0.3%,
with BMW BMWG.DE shedding 1.2% after an Australian regulator
called for 20,000 cars with faulty Takata airbags to be kept off
the roads, many of which include BMW cars. Shares of London Stock Exchange Group plc LSE.L rose 3%
after reports that some of the bourse operator's shareholders
told Hong Kong Exchanges and Clearing 0388.HK to increase its
takeover offer by 20%.
Bank stocks .SX7P fell 0.2%, extending falls to a fourth
session.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Global stocks https://tmsnrt.rs/2LLhPSt
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>