By RTT News,
January 13, 2014, 05:59:00 AM EDT
(RTTNews.com) - The French market is in positive territory on Monday, as weaker-than-estimated monthly U.S. jobs data led to hopes that the pace of stimulus tapering might be slower than expected. Further, the Basel Committee on Banking Supervision diluted a leverage-ratio rule for banks leading to an upside in banking stocks.
The Euro Stoxx 50 index of eurozone bluechip stocks is adding 0.32 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is gaining 0.14 percent.
The CAC 40 index is currently adding 0.24 percent.
Alcatel-Lucent is gaining over 5 percent. The telecom equipment maker is in discussions to sell its enterprise business, Bloomberg reported.
Societe Generale and Credit Agricole are advancing 2.1 percent while BNP Paribas is adding 1.1 percent.
Renault is gaining 2.6 percent. The stock was raised to ''Outperform'' from ''Underperform'' at Bernstein.
Bernstein also raised Peugeot to ''Outperform'' from ''Market-Perform.'' The stock is gaining 7 percent.
Sanofi is losing 1.6 percent. The company's unit Genzyme expanded its strategic agreement with Alnylam Pharmaceuticals to develop and commercialize treatments for rare genetic diseases. As part of the expanded relationship, Genzyme will invest $700 million to buy 12 percent of Alnylam. Other major markets in the region are also trading higher.
The Asian stocks rose for a second consecutive session after data showed the recovery in the U.S. labor market came to a grinding halt in December, easing concerns the Federal Reserve would accelerate cuts to stimulus.
In the U.S., futures point to a lower open on Wall Street. In the previous session, stocks ended mixed, as investors digested a surprisingly weak jobs report that showed hiring slowed sharply last month. The tech-heavy Nasdaq rose 0.4 percent and the S&P 500 gained 0.2 percent, but the Dow edged down marginally.
Crude for February delivery is losing $0.41 to $92.31 per barrel while gold is losing $1.7 to $1245.2 a troy ounce.
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