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GLOBAL MARKETS-U.S. jobs growth sends shares, dollar higher
March 8, 2013 / 2:12 PM / in 5 years

GLOBAL MARKETS-U.S. jobs growth sends shares, dollar higher

* U.S. nonfarm payrolls up 236,000 in February
    * Wall St to open firmer as stock futures rise
    * Dollar hits fresh 3-1/2 year high vs yen
    * U.S. Treasury prices fall

    By Richard Hubbard
    LONDON, March 8 (Reuters) - A unexpectedly sharp rise in
hiring by U.S. employers in February sent world shares and the
dollar higher on Friday while U.S. Treasuries fell as investors
bet on a solid recovery in the world's largest economy.
    U.S. stock index futures pointed to Wall Street gaining on
the data with the S&P 500 on track for a sixth straight
daily gain and the Dow set to scale fresh peaks.
    Nonfarm payrolls surged by 236,000 jobs last month, the U.S.
Labor Department said, easily beating forecasts for a gain of
160,000 and driving the jobless rate down to a four-year low of
7.7 percent. 
    "This was a strong number and one of those rare cases where
we were firing on all cylinders," said Jacob Oubina, senior U.S.
economist at RBC Capital Markets in New York.
    "Having said that, this will likely not mean much for Fed
policy as they will need to see more than one month of strong
numbers and if it is sustained."
    The dollar climbed as high as 96.54 yen after the data
, a fresh 3-1/2-year high, and added about 0.6 percent
against the euro, sending the single currency down to $1.3030
    The encouraging economic news sent safe-haven 10-year
Treasury notes down 20/32 to yield 2.063 percent
while the 30-year bond dropped 1-06/32 to yield
3.264 percent.
    European shares also jumped on the news, with the FTSE
Eurofirst 300 index of top European shares rising 0.8
percent and helping send MSCI's world equity index
 up 0.2 percent to a high last seen in mid 2008.

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