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Stocks rise on US jobs report

June 6, 2014

LONDON (AP) — Global stock markets rose Friday after the official U.S. jobs report showed a healthy pace of hiring in the world’s largest economy.

The Labor Department said 217,000 jobs were added in May, around market expectations. The unemployment rate remained at 6.3 percent, better than forecasts for it to edge up.

The news helped pushed major indexes higher after a mixed trading session in Asia.

In Europe, Germany’s DAX rose 0.4 percent to close at 9,987.19 while France’s CAC 40 gained 0.7 percent to 4,581.12. Britain’s FTSE 100 advanced 0.7 percent to 6,858.21.

European stocks were still supported somewhat by the previous day’s announcement by the European Central Bank of new monetary stimulus measures.

In the U.S., the S&P 500 rose further into record territory, gaining 0.4 percent to 1,947.88. The Dow edged up 0.4 percent to 16,900.81.

Earlier, most Asian benchmarks ended lower. Japan’s Nikkei 225 closed nearly flat at 15,077.24 while Hong Kong’s Hang Seng slipped 0.7 percent to 22,951.04.

In mainland China, the Shanghai Composite Index lost 0.5 percent to 2,029.96. Australia’s S&P/ASX 200 rose 0.5 percent to 5,464.00. Markets in South Korea were closed for a holiday.

In currency markets, the euro weakened to $1.3639 from $1.3659 in late trading Thursday. The dollar rose to 102.53 yen from 102.43 in late trading Thursday.

Oil prices dipped, with benchmark crude for July delivery down 9 cents to $102.39 in electronic trading on the New York Mercantile Exchange.

Update hourly