Markets waver before US jobs data as economy fears build

• World stock markets wavered on Friday as investors await the release of key US jobs data.
• London stocks advanced 0.3 percent while Frankfurt dipped 0.1 percent and Paris flatlined, after a mixed session earlier in Asia.
• On Thursday a measure of the crucial services sector came in at its lowest for three years.

LONDON: World stock markets wavered on Friday as investors await the release of key US jobs data following a number of disappointing figures this week that fanned concerns about the world's top economy.

In Europe, London stocks advanced 0.3 percent while Frankfurt dipped 0.1 percent and Paris flatlined, after a mixed session earlier in Asia.

"With growth fears driving a huge selloff in stocks, the US jobs report provides the one critical release traders will be watching out for as a driver of sentiment as we close out the week," noted IG analyst Joshua Mahoney.

"With September clearly having exhibited worrying traits across the US economy, previous expectations of an impending rebound could be wide of the mark when the payrolls figure is released this afternoon."

Having avoided for the past few years the growth slowdowns suffered in most other countries, a big miss on factory activity and private jobs creation has indicated the United States is now feeling the effects of its long-running trade war with China.

On Thursday a measure of the crucial services sector came in at its lowest for three years, ramping up expectations the Federal Reserve will cut interest rates for a third time this year at its October meeting.

The latest data, while missing expectations, provided a lift to Wall Street -- which had plunged more than one percent on Tuesday and Wednesday -- as dealers bet on another reduction. Expectations are high for such a move, according to analysts.

Hong Kong sinks

The heaviest faller in Asia was Hong Kong, with property firms among the worst hit, as demonstrators took to the streets again to protest the imposition of a law banning face masks following months of sometimes violent protests.

Tokyo rose 0.3 percent, Sydney was up 0.4 percent, Seoul fell 0.6 percent, Taipei added 0.2 percent and Wellington gained 0.7 percent.

Mumbai fell 0.7 percent after the Indian central bank announced a rate cut as expected but slashed its economic growth outlook. Shanghai was closed for a holiday.

Hong Kong sank 1.1 percent as the city's government announced the face mask ban as it looks to quell demonstrations that have rocked the economy.

But there are worries that the rarely-used colonial-era emergency power could lead to further confrontations or more, stricter laws later.

Key figures around 1100 GMT 

London - FTSE 100: UP 0.3 percent at 7,096.53 points

Paris - CAC 40: FLAT at 5,439.77

Frankfurt - DAX 30: DOWN 0.1 percent at 11,910.43

EURO STOXX 50: FLAT at 3,415.99

Tokyo - Nikkei 225: UP 0.3 percent at 21,410.20 (close)

Hong Kong - Hang Seng: DOWN 1.1 percent at 25,821.03 (close)

Shanghai - Composite: Closed for a public holiday

New York - Dow: UP 0.5 percent at 26,201.04 (close)

Euro/dollar: UP at $1.0974 from $1.0965 at 2100 GMT

Pound/dollar: DOWN at $1.2335 from $1.2332

Dollar/yen: DOWN at 106.78 yen from 106.92 yen

Brent North Sea crude: UP 0.3 percent at $57.88 per barrel

West Texas Intermediate: UP 0.2 percent at $52.57