(Corrects Dec payrolls gain for revision in paragraph 3 and
date of GDP publication in paragraph 4)
* U.S. nonfarm payrolls up 157,000 in January
* Wall St to open firmer as stock futures rise
* Dollar dips against euro to $1.3658
By Richard Hubbard
LONDON, Feb 1 (Reuters) - World shares gained and the dollar
extended its falls against the euro on Friday after data showed
U.S. payrolls grew modestly in January and that gains in the
previous two months were bigger than initially reported.
American employers added 157,000 new jobs to their payrolls
in January, down from a gain of 196,000 in December after the
prior month was revised up from a gain of 155,000. There were
127,000 more jobs created in November and December than
The jobs growth figures soothed some of the concerns about
the outlook for the U.S. economy after disappointing fourth
quarter GDP figures were released on Wednesday.
"It's not a bad report, given all the headwinds from
year-end. It's consistent with moderate job growth. It's a
slight improvement, but it's still weaker than what it needs to
be," said Craig Dismuke, chief economic strategist for Vining
The euro jumped to a high of $1.3658 after the data,
and was last at $1.3646, up 0.5 percent on the day.
The dollar also trimmed some of its gains against the
Japanese yen and was trading at a 3-1/2 month low against
a basket of the world's major currencies, after falling
0.3 percent to 78.96 points.
On Wall Street, S&P 500 futures rose 6 points and
were above fair value, a formula that evaluates pricing by
taking into account interest rates, dividends and time to
expiration of the contract. Dow Jones industrial average futures
added 75 points and Nasdaq 100 futures rose 19
The MSCI world equity index was up 0.3
percent, having strengthened earlier on factory activity surveys
for January in China and the euro zone, which increased optimism
over the global growth outlook.
(Reporting by Richard Hubbard; editing by David Stamp)