Berliner Boersenzeitung - Paris stocks rally as Macron fights on, jobs data boosts Wall Street

Oil fell on concerns of oversupply and Bitcoin pulled back under $100,000 after hitting records Thursday.

The world's biggest economy gained 227,000 jobs in November, higher than analysts' expectations, and up from a revised 36,000 in October, said the US Department of Labor.

"The US jobs market has emphatically rebounded following October's disappointing data," said Neal Keane, head of global sales trading at ADSS.

October's figures had been depressed by hurricanes and a dockworkers strike, and November's increases may have been exaggerated by the end of a strike at Boeing and by retail hiring ahead of the holiday season.

US stock futures jumped in pre-market trading after the report, but gave back some of those gains. In late morning trading, the wider S&P 500 and tech-heavy Nasdaq were higher but the Dow was little changed.

Investors are mostly betting that November's numbers, while comforting, are probably not strong enough to deter the Federal Reserve from cutting interest rates again later this month.

"Investors needed a reassuring jobs report and that's exactly what they got," said eToro analyst Bret Kenwell. "The market still favors a rate cut from the Fed later this month and this report may not change that expectation."

- Paris markets rise after Macron speech -

The Paris stock market closed up 1.3 percent in mid-afternoon trading, on "hope that President Emmanuel Macron will serve out his term and that a (French) budget can be passed in the coming weeks", noted Derren Nathan, head of equity research at Hargreaves Lansdown.

Macron on Friday was holding talks with French political leaders on the left and right as he seeks to quickly name a new prime minister after Michel Barnier's government was ousted in a historic no-confidence vote.

Macron adopted a defiant tone in an address to the nation Thursday evening, just 24 hours after parliament voted out Barnier over his 2025 budget plan, which included unpopular austerity measures forced through without a vote using special powers.

The luxury sector benefitted also from hopes of a pickup in Chinese demand. Gucci owner Kering topped the Paris CAC 40 as its shares gained more than six percent, while LVMH rose more than 3 percent.

French video game company Ubisoft jumped 13 percent on takeover speculation.

Frankfurt closed slightly higher, other continental markets were mixed, and London slid.

In Asia, shares in Seoul sank more than one percent and the won weakened to about 1,420 per dollar as lawmakers prepared to hold an impeachment vote Saturday after President Yoon Suk Yeol's dramatic, short-lived imposition of martial law this week.

While analysts said the economic fallout from the crisis would likely be limited, the political storm is ongoing.

Hong Kong and Shanghai rallied as investors grew hopeful of fresh stimulus when top Chinese leaders including President Xi Jinping meet to discuss economic policy next week.

Bitcoin was hovering around $98,000, after having blasted to the historic peak of $103,800 Thursday on news that US President-elect Donald Trump had picked crypto proponent Paul Atkins to head the nation's markets regulator.

- Key figures around 1640 GMT -

New York - Dow: DOWN 0.1 percent at 44,732.71 points

New York - S&P 500: UP 0.3 percent at 6,090.63

New York - Nasdaq Composite: UP 0.7 percent at 19,829.05

Paris - CAC 40: UP 1.3 percent at 7,426.88 (close)

Frankfurt - DAX: UP 0.1 percent at 20,384.61 (close)

London - FTSE 100: DOWN 0.5 percent at 8,308.61 (close)

Tokyo - Nikkei 225: DOWN 0.8 percent at 39,091.17 (close)

Hong Kong - Hang Seng Index: UP 1.6 percent at 19,865.85 (close)

Shanghai - Composite: UP 1.1 percent at 3,404.08 (close)

Euro/dollar: DOWN at $1.0574 from $1.0591 on Thursday

Pound/dollar: DOWN at $1.2748 from $1.2760

Dollar/yen: DOWN at 149.92 yen from 150.09 yen

Euro/pound: DOWN at 82.93 from 82.97 pence

West Texas Intermediate: DOWN 1.4 percent at $67.34 per barrel

Brent North Sea Crude: DOWN 1.3 percent at $71.19 per barrel

(A.Lehmann--BBZ)