European stocks rose as investors focused on a strengthening
economy instead of the prospects for Fed tapering after a
stronger-than-expected jobs report.
The US added 203,000 nonfarm workers last month following a
revised 200,000 gain in October, the strongest back-to-back gain
since February-March. The median economist estimate in a Bloomberg
survey called for a 185,000 advance. The jobless rate fell to 7% in
November, a five-year low. Economists had forecast the rate would
fall to 7.2%.
In ADR news, Total (
) agreed to buy a stake in InterOil Corp.'s (
) assets in Papua New Guinea. TOT will acquire 61.3% of a license
that includes IOC's Elk and Antelope gas fields in the country and
get the right to invest in further exploration blocks. IOC valued
the deal at as much as $3.6 billion. Separately, HSBC initiated
coverage on TOT at overweight.
Royal Dutch (RDS.A) was initiated by HSBC at overweight.
) is started at overweight by HSBC.
) was upgraded by Berenberg to buy from hold and Exane BNP Paribas
upgraded it to neutral from underperform.
) slips after NYSE Euronext said late Thursday the chip maker will
be removed from the CAC 40 index and be replaced by Alcatel-Lucent
ALU, effective Dec. 23.
The FTSE-100 was last up 0.83% at 6,551.99, the DAX up 0.96% at
9,172.41 and the CAC-40 up 0.72% at 4,129.37.
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