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.
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