A look at economic developments and activity in major stock markets around the world Friday:

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ATHENS, Greece _ Greece's private creditors agreed to take cents on the euro in the biggest debt writedown in history, paving the way for an enormous second bailout for the country to keep Europe's economy from being dragged further into chaos.

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BEIJING _ China's inflation fell sharply in February, giving Beijing more leeway to stimulate its slowing economy.

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LONDON _ News that the U.S. added a significant number of jobs last month pushed stocks higher, but traders remained cautious with Europe's debt crisis still in mind.

The CAC-40 in France gained 0.3 percent, while Germany's DAX rose 0.7 percent. The FTSE index of leading British shares closed 0.5 percent.

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TOKYO _ Asian markets were reassured by news that China's inflation fell sharply in February.

Japan's Nikkei 225 index closed up 1.7 percent, its highest finish in more than seven months. It briefly surged past 10,000 for the first time since Aug. 1.

Hong Kong's Hang Seng added 0.9 percent. South Korea's Kospi rose 0.9 percent and Australia's S&P/ASX 200 climbed 1 percent. Benchmarks in Singapore, Taiwan and Indonesia also rose.

Mainland China's benchmark Shanghai Composite Index gained 0.8 percent. The Shenzhen Composite Index shot up 1.6 percent.

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LISBON, Portugal _ Portugal's economy shrank 1.6 percent last year as austerity measures adopted in return for a $103 billion bailout took their toll, the national statistics agency said.

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MADRID _ Spanish labor unions mounted their first big challenge to the country's new government, calling a general strike for March 29 to protest new labor reforms and austerity measures.

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SHANGHAI _ China's vehicle sales weakened further in the first two months of this year as the economy slowed and higher fuel prices deterred some buyers.

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TORONTO _ Canadians struggled to find work in February as job creation fell short of expectations with 2,800 positions lost in the month, continuing a trend of disappointing numbers since the summer.

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NEW DELHI _ India's central bank slashed reserve requirements for lenders, flushing the banking system with an extra $9.6 billion to keep credit available as the economy slows.

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