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The Deal: Oil, Mining Stocks Lead European Markets Higher

LONDON (The Deal) -- European markets were up in early trading Friday, with oil and mining stocks leading the indices higher. But investors were still waiting for U.S. jobs numbers later Friday to give a new signal on the timing of the Federal Reserve's much-feared taper. There's still uncertainty about the U.S. economy, despite the news that it grew 3.6% last quarter. Economists noted the build-up of consumer goods inventories has outstripped forecast demand for the season.
One big faller in London was Domino's Pizza, which owns the U.K. and Irish master franchise for the global U.S. pizza delivery brand. It also operates stores in Germany and Switzerland. Domino's announced Friday that long-standing CEO Lance Batchelor will resign, with effect from next April. He's joining an unnamed private-equity firm. Domino's fell 6.45% in early trading to 494.9 pence a share.
In France, tourist resorts operator Club Mediterranee announced a fall in profits this year. That's partly because French families don't have the money to spend on foreign jaunts. But also because some of the company's main North African destinations -- think Egypt and Tunisia -- are in turmoil. Club Med was down 0.34% at 17.35 euros.
Meanwhile. shampoo and beauty products group L'Oreal rose 3.2% on renewed speculation that Swiss foods group Nestle might sell its 29.5% stake.
By mid-morning, Frankfurt's DAX was up 0.63%  at 9141. In Paris, the CAC40 was up 0.28% at 4,111 and the FTSE100 was up 0.44 at 6,527.
In Asia, the Nikkei 225 closed up 0.81% at 15,299.86, recovering at least some of its recent losses on the weaker yen. Hong Kong' s Hang Seng index was up 0.13% at 23,743.1. And in Australia, where the national airline Quantas slumped for a second day, after warning of a possible A$300 million loss on Thursday and a downgrade to junk status from Standard and Poors today, Sydney's ASX 200 closed down 0.23% at 5,186.

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