European stocks rose to a three-week high, completing their biggest weekly gain since April, as investors bet that any tapering of Federal Reserve stimulus will be more gradual than previously anticipated.

In the U.S., data showed that payrolls climbed at a slower-than-forecast pace in August, fueling speculation the Fed will not rush into large-scale trimming of bond purchases. The gain of 169,000 workers last month followed a revised 104,000 increase in July that was smaller than initially estimated, Labor Department figures showed in Washington. The median forecast of 96 economists surveyed by Bloomberg called for an August increase of 180,000. Still, unemployment dropped to 7.3 percent, the lowest since December 2008, as more people left the labor force.

National benchmark indexes rose in 14 of the 18 western European markets. The U.K.’s FTSE 100 added 0.2 percent, France’s CAC 40 climbed 1.1 percent and Germany’s DAX advanced 0.5 percent.

Sonova advanced 3.6 percent to 110 Swiss francs, its highest price since April 16. UBS raised its rating on the shares to buy from neutral, citing growth prospects in its hearing-implants business.

Air France-KLM Group climbed 4 percent to 6.16 euros as the airline said the number of passengers increased 3 percent in August from a year earlier.

A gauge of travel and leisure companies advanced 0.5 percent. Thomas Cook Group Plc rallied 6.3 percent to 147.4 pence and EasyJet Plc added 1.5 percent to 1,255 pence.

ProSiebenSat.1 slid 1.1 percent to 30.78 euros after TMG said late yesterday sold its entire stake of 13.1 million shares, or about 6 percent, in the company to institutions. KKR & Co. and Permira Advisers LLP sold 25 million shares of ProSiebenSat.1 earlier this week.

Voestalpine AG slid 1.3 percent to 34.05 euros. Bank of America Corp.’s Merrill Lynch unit downgraded Austria’s biggest steelmaker to neutral from buy, citing a recent rally that has led to limited potential for a price increase. The stock gained 37 percent in the four months through August.

U.S. stock-index futures rose after data showed payrolls climbed less than projected in August, as investors weighed whether the Federal Reserve will reduce stimulus measures at its next policy meeting.

Global Stocks:

Nikkei 13,860.81 -204.01 -1.45%

Hang Seng 22,621.22 +23.25 +0.10%

Shanghai Composite 2,139.99 +17.56 +0.83%

FTSE  6,553.14 +20.70 +0.32%

CAC  4,030.47 +23.67 +0.59%

DAX 8,268.82 +33.84 +0.41%

Crude oil $109.36 +0.91%

Gold $1387.80 +1.01%

Upgrades:

Downgrades:

Other:

Apple (AAPL) target raised to $600 at Evercore

Facebook (FB) target raised to $55 from $40 at Sun Trust Rbsn Humphrey

European stocks were little changed, with the benchmark gauge heading for a weekly gain, as investors awaited a report on U.S. payrolls to gauge the outlook for Federal Reserve stimulus. U.S. index futures and Asian shares were also little changed.

The Stoxx Europe 600 Index slid less than 0.1 percent to 304.36 at 9:37 a.m. in London. The gauge has rallied 2.4 percent so far this week, snapping two weeks of losses, as the European Central Bank affirmed its accommodative monetary policy and Chinese manufacturing in August surpassed estimates. Standard & Poor’s 500 Index futures added less than 0.1 percent today, while the MSCI Asia Pacific Index slipped less than 0.1 percent.

A U.S. Labor Department report at 8:30 a.m. in Washington may show employers increased payrolls at a faster pace in August. Payrolls climbed by 180,000 last month, compared with 162,000 in July, economists forecast.

ProSiebenSat.1 slid 1.3 percent to 30.71 euros after TMG said late yesterday sold its entire stake of 13.1 million shares, or about 6 percent, in the company to institutions. KKR & Co. and Permira Advisers LLP sold 25 million shares of ProSiebenSat.1 earlier this week.

Voestalpine AG slid 1.7 percent to 33.92 euros. Bank of America Corp.’s Merrill Lynch unit downgraded Austria’s biggest steelmaker to neutral from buy, citing a recent rally that has led to limited potential for a price increase. The stock gained 37 percent in the four months through August.

Sonova advanced 3.3 percent to 109.70 Swiss francs, its highest price since April 16. UBS raised its rating on the shares to buy from neutral, citing growth prospects in its hearing-implants business.

FTSE 100 6,523.43 -9.01 -0.14%

CAC 40 4,002.66 -4.14 -0.10%

DAX 8,214.46 -20.52 -0.25%

Asian stocks dropped, snapping a six-day advance and paring the regional benchmark index’s biggest weekly gain since July, as investors await the monthly American jobs report.

Nikkei 225 13,860.81 -204.01 -1.45%

Hang Seng 22,621.22 +23.25 +0.10%

S&P/ASX 200 5,144.99 +2.48 +0.05%

Shanghai Composite 2,139.99 +17.56 +0.83%

Sumitomo Realty & Development Co.  sank 1.4 percent as Japanese developers retreated ahead of a decision this weekend on whether Tokyo will host the 2020 Olympics.

SoftBank Corp.  fell 2.2 percent after competitor NTT DoCoMo Inc., Japan’s largest mobile-phone carrier, was said to be near an agreement to offer Apple Inc.’s iPhone.

BBMG Corp., a cement company, rose 3.4 percent in Hong Kong after announcing a share sale.

Nikkei 225 14,064.82 10,95 0,08%

Hang Seng 22,596.63 270,41 1,21%

S & P / ASX 200 5,142.51 -19,12 -0,37%

Shanghai Composite -5,19 -0,24 2,122.43%

FTSE 100 6,532.44 +57.70 +0.89%

CAC 40 4,006.8 +26.38 +0.66%

DAX 8,234.98 +39.06 +0.48%

DJIA 14,937.90 6.99 0.05%

S&P 500 1,655.01 1.93 0.12%

NASDAQ 3,658.78 9.74 0.27%