Breaking News

Tweet TWEET

German Stocks Rise Before U.S. Jobs, Unemployment Report

German stocks advanced, paring their biggest weekly decline since August, before a U.S. employment report that will help investors assess when the Federal Reserve will reduce its monthly bond purchases.

Deutsche Telekom AG (DTE) climbed 0.8 percent as Exane BNP Paribas upgraded the shares. Adidas AG (ADS) added 0.8 percent after Raymond James Financial Inc. raised its price forecast on the sporting-goods maker. Hochtief AG (HOT) fell 4.2 percent as Commerzbank AG recommended selling shares in the builder controlled by Actividades de Construccion & Servicios SA.

The DAX Index (DAX) advanced 0.6 percent to 9,136.03 at 10:24 a.m. in Frankfurt. The equity benchmark has still dropped 2.9 percent this week as a report showed U.S. companies hired workers at a faster-than-expected pace last month, reigniting concern that the Fed will slow the rate of asset buying. The gauge has still advanced 20 percent this year. The broader HDAX (HDAX) Index also rose 0.6 percent today.

A Labor Department report at 8:30 a.m. in Washington will show that U.S. employers added 185,000 workers last month, according to the median economist estimate in a Bloomberg survey. Payrolls rose by 204,000 in October. The report may also show that the unemployment rate fell to 7.2 percent in November, which would match the lowest level since 2008.

To contact the reporter on this story: Jonathan Morgan in Frankfurt at jmorgan157@bloomberg.net

To contact the editor responsible for this story: Cecile Vannucci at cvannucci1@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.