New throughout, adds analyst comment, updates prices, adds NEW YORK to dateline

By Chibuike Oguh and Dhara Ranasinghe

NEW YORK/LONDON, July 5 (Reuters) -Global stocks rose while U.S. Treasury yields dipped on Friday after highly anticipated jobs data boosted market expectations of a Federal Reserve interest-rate cut.

U.S. job growth slowed to a still-healthy pace in June, with the unemployment rate rising to 4.1%, indicating that the Fed could begin cutting rates as inflation slows.

MSCI's gauge of stocks across the globe .MIWD00000PUS rose 0.19% to 816.72, reaching a record high. On Wall Street, the benchmark S&P 500 and Nasdaq were advancing while the Dow was flat.

"Our overall thesis for the economy right now is one that's cooling but not weak," said Keith Lerner, co-chief investment officer at Truist Advisory Services in Atlanta.

"I think this report confirmed this but also I think it is the 4% plus unemployment rate that will get the Fed's attention and probably provides them flexibility likely to start reducing rates. We think it's likely September," he added.

The Dow Jones Industrial Average .DJI fell 0.06% to 39,285.43, the S&P 500 .SPX gained 0.35% to 5,556.67 and the Nasdaq Composite .IXIC gained 0.82% to 18,337.40.

Benchmark 10-year Treasury yields slid following the closely watched jobs data. The yield on benchmark U.S. 10-year notes US10YT=RR fell 7.1 basis points to 4.276%.

UK stocks gave up earlier gains and finished lower after Keir Starmer became Britain's new prime minister following a landslide general election victory by his Labour Party after 14 years of Conservative rule. London's FTSE 100 index .FTSE fell 0.45%.

The market focus in Europe was quickly shifting from the British election outcome to Sunday's second-round legislative election in France. Europe's broad STOXX 600 .STOXX index dropped 0.18%.

In currency markets, the dollar index fell slightly, the British pound sterling gained ground after the British election, the euro rose ahead of the French vote, and the dollar JPY=EBS weakened against the yen before paring losses.

The dollar index =USD, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.21% to 104.94. Sterling GBP= strengthened 0.39% at $1.2807 and the euro EUR= was up 0.17% at $1.0828.

Oil prices rose, reaching their highest levels since late April and bouncing back from early June lows as investors eyed strong summer fuel demand and potential supply disruptions.

Brent crude futures LCOc1 were up 0.13% at $87.54 a barrel, while the U.S. West Texas Intermediate (WTI) crude futures CLc1 gained 0.27% at $84.11.

Gold prices extended gains to their highest level in a month as the U.S. dollar weakened. Spot gold XAU= added 1.23% to $2,385.12 an ounce. U.S. gold futures GCc1 gained 0.8% to $2,378.60 an ounce.

In cyrptocurrencies, bitcoin was set for its biggest weekly fall in more than a year on worries over the likely dumping of tokens from defunct Japanese exchange Mt. Gox. Bitcoin BTC= fell 2.90% to $56,637.00, while Ethereum ETH= declined 4.81% to $2,991.4.

Reporting by Chibuike Oguh in New York and Dhara Ranasinghe in London
Editing by Alex Richardson and Matthew Lewis

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