European Shares Extend Declines Ahead Of US Jobs Report
(RTTNews) - European stocks traded lower on Friday, extending declines for a fifth day running as caution prevailed ahead of the crucial U.S. jobs report due later in the day.
The labor market report could steer the Federal Reserve's interest-rate decision in the remaining months of 2024.
The eurozone's revised GDP data for the second quarter is also due later in the day. The pan European STOXX 600 dropped 0.4 percent to 510.02 and was down nearly 3 percent for the week.
The German DAX dipped 0.6 percent, France's CAC 40 shed 0.4 percent and the U.K.'s FTSE 100 was down half a percent.
Energy stocks underperformed as crude prices hovered near a 14-month low on demand concerns. BP Plc was down 0.8 percent, Shell lost 1 percent and TotalEnergies fell 1.1 percent.
Camellia, engrained in agriculture and engineering business, slumped 5.6 percent after it reported a loss before tax from continuing operations of 11 million pounds for the first half.
Berkeley Group Holdings declined 1.6 percent. The housebuilder backed its full-year guidance and said trading in the first four months of the year has been stable.
Airbus declined 1.1 percent in Paris as Europe's air safety regulator ordered one-off inspections of some engines on its A350-1000 jets following an engine fire on a Cathay Pacific flight earlier this week.
French workspace supplies provider Elis SA plummeted 16 percent after it approached Vestis, the former uniform rentals business of Aramark, with an acquisition offer.
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