European stocks ended higher on Friday, as weaker-than-expected U.S. jobs data bolstered expectations of further stimulus and therefore investors' appetite for risky assets, led by equities, while the oil resumed its rise.

In Paris, the CAC 40 ended up 0.62% (34.79 points) at 5,609.15, its first close at more than 5,600 since February 26.

In London, the FTSE 100 gained 0.95% and in Frankfurt, the Dax rose 0.35%. The EuroStoxx 50 index gained 0.63%, the FTSEurofirst 300 0.59% and the Stoxx 600 0.59% as well.

At the time of the close in Europe, Wall Street was also evolving in the green, the Dow Jones winning 0.58%, the Standard & Poor's 500 0.7% and the Nasdaq Composite 0.56%. All three set morning records.

The US economy added just 245,000 jobs last month, the Labor Department said, the weakest figure since May, while the Reuters consensus was expecting 469,000. For many investors, this disappointment, by confirming that the economic recovery is marking time, pleads in favor of the rapid adoption of new measures to support activity and employment.

“The calculation (of the markets) is that the slowdown in the job market will push American parliamentarians to agree on a fiscal stimulus plan to align with the support of the Fed”, comments Ulas Akincilar. , responsible for trading the Infinox trading platform.

This scenario is considered all the more credible that progress had been mentioned Thursday in the discussions in Congress on a recovery plan of 908 billion dollars (748 billion dollars).

The rise in oil prices following the agreement reached by the OPEC+ countries to regulate the increase in their production in the coming months also contributed to the rise in equities.

Over the week as a whole, the Stoxx 600 and the CAC 40 posted an increase of 0.2%, their fifth positive weekly performance in a row.

VALUES

The best sector performance of the day was for oil stocks, whose index gained 3.14% thanks to the rise in the price of a barrel. In Paris, Total won 3.18%, CGG 1.74% and TechnipFMC 6.79%, the biggest rise in the SBF 120. At the top of the Stoxx 600, the Norwegian Aker BP jumped 6.82% .

Other sectors have benefited from the hopes placed in vaccines, such as tourism (+1.50%).

Among other notable increases in the session, Dassault Aviation took 4.43%, taking advantage of information on a possible Indonesian order for Rafale.

On the downside, several export-oriented stocks suffered from the appreciation of the euro, such as Hermès (-1.60%), LVMH (-0.77%) or Ahold Delhaize (- 2.14%).

THE INDICATORS OF THE DAY

In Europe, industrial orders in Germany exceeded expectations with an increase of 2.9% in October, while the consensus was for +1.5%.

The trend is also positive for industrial orders in the United States with an increase of 1.0% in October against +0.8% expected.

The US trade deficit widened less than expected to $63.1 billion, or $1.5 billion less than expected.

CHANGES

US jobs data did not halt the dollar's decline, hurt by the prospect of a widening US budget deficit due to stimulus and the flow of positive vaccine news, which is boosting the appetite for the risk.

The index which measures the fluctuations of the greenback against a basket of reference currencies thus hit a new low in two and a half years and is heading for a third weekly decline in a row, greater than 1%.

The EUR pared its gains late in the session to come back below 1.2140 after peaking at 1.2177.

The pound sterling continues to fluctuate according to speculation on the outcome of negotiations between London and Brussels on post-Brexit.

RATE

Benchmark yields in the euro zone ended higher in the wake of the Americans, boosted by the anticipation of an increase in the financing needs of the US Treasury in the event of a new stimulus plan.

That of the ten-year German Bund ended at -0.544% after returning to -0.566% zen at the start of the session. On the American market, the ten-year took nearly six basis points to 0.9709%, approaching a little more than the symbolic threshold of 1%, which it has not reached since March.

OIL

The compromise reached by OPEC + on Thursday allows oil prices to continue to rise: Brent gains 1.05% to 49.22 dollars a barrel after a peak at 49.92 and American light crude (West Texas Intermediate, WTI) takes 1.23% to 46.20 dollars.