BRUSSELS (dpa-AFX) - The German market is trading higher on Friday, ahead of the key monthly jobs report from the U.S., after the country's industrial production grew less than expected in September.
Economists expect the U.S. jobs report to show an increase of about 240,000 jobs in October, while the unemployment rate is expected to hold at a more than six-year low of 5.9 percent.
On the economic front, Germany's industrial production grew less than expected in September, but it recovered from a decline seen in the prior month, data from Destatis revealed. Industrial production expanded 1.4 percent in September from August, when it fell by 3.1 percent. Economists had forecast a 2 percent rise for September.
Separate data released by Destatis showed that Germany's exports and imports recovered in September. Exports climbed 5.5 percent month-on-month in September, partially offsetting the 5.8 percent decrease seen in August. The growth rate also exceeded a 2.7 percent rise forecast by economists.
French industrial production was unchanged in September, defying expectations for a decrease, figures from the statistical office INSEE showed.
The Euro Stoxx 50 index of eurozone bluechip stocks is advancing 0.03 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is gaining 0.36 percent.
The DAX index is currently up 0.29 percent.
Allianz surged 5 percent after announcing increased dividend. Deutsche Bank raised the stock to 'Buy' from 'Hold.'
Adidas and ThyssenKrupp are rising 1.3 percent each.
Meanwhile, Lanxess is losing 3.7 percent and Fresenius Medical is falling close to 3 percent.
Other markets in the region are trading mixed.
The Asian stocks pared early gains to end mixed. The Australian, Japanese and Seoul shares rose on upbeat U.S. economic data and talk of further stimulus efforts from the European Central Bank, while Chinese and Hong Kong stocks retreated on profit taking after recent sharp gains.
In the U.S., futures point to a higher open on Wall Street. In the previous session, the major U.S. averages rose around half a percent each, with the Dow and the S&P 500 again closing at record highs, as investors cheered upbeat weekly jobless claims and productivity data.
Crude for December delivery is gaining $0.10 to $78.01 per barrel, while gold is advancing $1.2 to $1143.8 a troy ounce.
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