Jornal Do Brasilia - Global stock markets build on Trump rally

In a speech via video link at the World Economic Forum in Davos, Trump pushed for lower interest rates and said he would cut taxes for companies investing in the United States while imposing tariffs on those who do not.

He also said in a separate interview that he would "rather not" impose tariffs on China and signalled openness at negotiating a trade deal with Beijing.

"Clearly these are off-the-cuff remarks but it has left the overnight market feeling like there's a scenario where China escapes the worst of the tariff regime," said Jim Reid, managing director at Deutsche Bank.

That spurred Chinese equities to rally, with Hong Kong gaining nearly two percent and Shanghai also advancing.

In Europe, Frankfurt and Paris stock markets both gained after data showed that business activity in the eurozone bounced back in January after a two-month contraction.

The release of the closely watched data throughout Europe "brought a significant degree of optimism, coming as global leaders discuss the hopelessness of the region in Davos", said Joshua Mahony, chief market analyst at Scope Markets.

But London stocks fell after data showed an increase in job cuts despite business activity coming out stronger than expected.

In company news, British fashion house Burberry showed signs of recovery despite posting a further decline in sales, sending its shares soaring 15 percent.

In the wake of the results, Paris's luxury sector led gains with Gucci-owner Kering surging eight percent and LVMH up three percent on hopes of a China-led recovery.

In Japan, Tokyo's stock market dropped and the yen briefly rallied after the Bank of Japan lifted borrowing costs to their highest level since 2008 and flagged further increases in the pipeline.

Moody's Analytics said "the weak yen is a key reason" for the hike, along with a run of forecast-beating inflation reports.

The yen has come under pressure against the dollar in recent months after the US Federal Reserve dialled back its expectations for rate cuts this year, and amid concerns that Trump's policies would reignite inflation.

Oil prices recovered some of Thursday's losses that followed Trump's call to Saudi Arabia and OPEC to lower prices, with a recent build in US stockpiles adding to the weakness.

- Key figures around 1100 GMT -

London - FTSE 100: DOWN 0.3 percent at 8,537.31 points

Paris - CAC 40: UP 1.0 percent at 7,969.75

Frankfurt - DAX: UP 0.4 percent at 21,485.70

Tokyo - Nikkei 225: DOWN 0.1 percent at 39,931.98 (close)

Hong Kong - Hang Seng Index: UP 1.9 percent at 20,066.19 (close)

Shanghai - Composite: UP 0.7 percent at 3,252.63 (close)

New York - Dow: UP 0.9 percent at 44,565.07 (close)

Dollar/yen: DOWN at 155.98 yen from 156.03 yen on Thursday

Euro/dollar: UP at $1.0492 from $1.0415

Pound/dollar: UP at $1.2430 from $1.2352

Euro/pound: UP at 84.41 pence from 84.31 pence

West Texas Intermediate: UP 0.5 percent at $75.01 per barrel

Brent North Sea Crude: UP 0.5 percent at $78.71 per barrel

P.F. da Conceiçao--JDB