NEW YORK: US stocks have advanced, buoyed by a solid payrolls report for November that locked in expectations for an interest rate hike from the US Federal Reserve next week and raised optimism about economic prospects in 2018.
Technology stocks such as Microsoft, Apple and Oracle helped pace the advance, as they continued to rebound from a selloff in the sector earlier in the week.
Nonfarm payrolls rose by 228,000 jobs in November amid broad gains in hiring as the distortions from the recent hurricanes faded, Labor Department data showed, topping expectations calling for a rise by 200,000 jobs.
Average hourly earnings rose 0.2 per cent in November after dipping 0.1 per cent the prior month, but fell shy of the estimated 0.3 per cent rise.
The Dow Jones Industrial Average rose 0.49 per cent, to 24,329.16, the S&P 500 gained 0.55 per cent to 2,651.50 and the Nasdaq Composite added 0.4 per cent to 6,840.08.
For the week, the Dow rose 0.4 per cent, the S&P advanced 0.35 per cent and the Nasdaq fell 0.11 per cent.
LONDON: A breakthrough in Brexit talks helped British shares surge ahead of European peers on Friday as sterling fell back, dented by investors banking their gains in the currency which has swung violently as negotiations unfolded.
The blue chip FTSE 100 index closed up 1.0 per cent, at 7,393.96, delivering its strongest week in two months, while euro zone stocks ended the day 0.7 per cent higher with all sectors trading in positive territory.
Britain and the European Union struck a divorce deal paving the way for talks on future trade ties, easing immediate pressure on Prime Minister Theresa May and boosting hopes of an orderly Brexit.
The pound initially rose against the US dollar, but profit taking and remaining doubts on the end-game of Brexit dented sterling which slid about 0.7 per cent in afternoon trading.
European stocks surge 0.8 pct, following Asian stocks higher.
The pan-European share index rose 0.8 per cent, pushing the MSCI world equity index, which tracks shares in 47 countries, up 0.2 per cent.
European banking shares were amongst the biggest gainers after financial regulators reached a long-sought deal on Thursday to harmonise global banking rules, but said the rules would take effect in 2022, later than previous expectations for 2019.
Germany’s Dax rose 0.83 per cent to 13,153.70 points.
TOKYO: Asian shares rallied for a second session in a row as economic news from Japan and China beat all expectations.
Revised data showed Japan’s economy growing twice as fast as first thought as business spending jumped.
Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.85 per cent while Japan’s Nikkei index closed up 1.39 per cent at 22,811.08.
Hong Kong stocks rose the most in two weeks on Friday, aided by a sharp rebound in Tencent Holdings, and better-than-expected China November trade data.
Beijing reported exports surged 12.3 per cent in November from a year earlier, more than double the forecast, while imports climbed almost 18 per cent.
At close of trade, the Hang Seng index was up 1.19 per cent at 28,639.85.
China’s main Shanghai Composite index rose 0.55 per cent to 3,290.1683 points while its blue-chip CSI300 index ended up 0.81 per cent at 4,003.38.
WELLINGTON: The S&P/NZX50 Index rose 62.49 points, or 0.8 per cent, to 8,235.09.