Euro Slips as Spain Calls Early Election; US Jobs Growth Disappoints

• Pedro Sánchez sets Nov. 29 vote after lawmakers reject housing-cost plan
• US payrolls rise by 29,000, far below forecasts; prior months revised down
• Schneider agrees to buy PTC for $23 billion as Brent climbs to $106

The euro weakened in Asian trading as investors weighed renewed political uncertainty in Europe and concerns over France’s public finances. The currency fell as much as 1% before paring its losses to about 0.3%.

Spain’s Prime Minister Pedro Sánchez called an early election for Nov. 29 after parliament last week rejected a plan to address housing costs, a policy issue that has fueled public anger.

The political developments come as markets remain focused on France’s fiscal outlook. French industrial conglomerate Schneider Electric expanded its push into artificial intelligence, agreeing to acquire Boston-based industrial software company PTC Inc. for $23 billion.

US labor-market data added to concerns over economic momentum. Nonfarm payrolls increased by just 29,000 in September, below expectations for a 90,000 gain, while revisions removed a combined 60,000 jobs from July and August.

In energy markets, Saudi Aramco Chief Executive Officer warned that global oil stockpiles were “scarily thin,” as Brent crude advanced 0.6% to $106 a barrel.

Markets at a Glance

• Europe: Regional stocks fell 0.3%, with French shares down 1%.
• Asia: Japan’s benchmark gained 1%; mainland China and Hong Kong rose 0.3%.
• US futures: Contracts pointed to modest losses at the open.
• Currencies: The euro pared an earlier decline of as much as 1% to trade down about 0.3% in Asia.
• Oil: Brent crude rose 0.6% to $106 a barrel.