Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Markets

News : Markets

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

EUROPE MARKETS: European Stocks Slip With U.S. Jobs Data In View; Spanish Banks Resume Selloff

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/06/2017 | 11:58am CEST

By Sara Sjolin, MarketWatch

Euro falls ahead of nonfarm payrolls report from U.S.

European stocks edged lower on Friday, as investors digested a tumultuous week of political drama in Spain and the U.K., but also focused on the monthly U.S. jobs report due later.

Latest levels: The Stoxx Europe 600 index fell 0.2% to 390.35, trimming its weekly gain to 0.6%.

The euro dropped to $1.1697 from $1.1711 on Thursday, as investors bought dollars ahead of the U.S. nonfarm payrolls report. The closely watched monthly jobs report is expected to give further clues to the likelihood of a December interest-rate increase by the U.S. Federal Reserve, which could drive financial markets around the world. The report is due at 8:30 a.m. Eastern Time, or 1:30 p.m. London time.

Week of uncertainty: The pan-European Stoxx Europe 600 has flipped in and out of losses for most of the week, buffeted by events in Catalonia, where separatists have vowed to declare the region's independence from Spain.

Prime Minister Mariano Rajoy's government has been criticized for its heavy-handed response to Sunday's referendum on independence and to subsequent developments. Separatist leaders looked ready to declare independence as early as Monday next week, but national authorities moved to thwart that Thursday by closing the regional parliament for that day.

"Yesterday's ruling by the Spanish constitutional court to suspend the Catalan parliament on Monday wasn't entirely unexpected, as the government in Madrid look to head off steps to call for independence by Catalan politicians," said Michael Hewson, chief market analyst at CMC Markets UK.

"However, short of a military presence, there is little that Spanish politicians can do to physically stop the parliament convening anyway, which is what is expected to happen next week anyway," he added in his note.

Spanish assets suffer: Spain's IBEX 35 index was set for a 2.3% drop for the week, after hitting an almost seven-month low on Wednesday. The index was down 0.8% at 10,134.50 on Friday, led by losses for banks.

Shares of Banco de Sabadell SA (>> Banco de Sabadell) fell 2.9%, and CaixaBank SA (>> CaixaBank) lost 2.2%. They rallied in Thursday's session on reports the companies were looking to move their headquarters out of Catalonia .

On Friday, Spanish daily El Mundo reported that major cava producer Freixenet also was considering moving its corporate address outside the region (http://www.elmundo.es/cataluna/2017/10/06/59d7346522601da65f8b46b7.html).

Other indexes: France's CAC 40 index dropped 0.2% to 5,370.16. The country's current-account and trade deficits narrowed in August as the country's exports strengthened, statistics showed Friday.

Germany's DAX 30 index rose 0.1% to 12,979.99. A report showed orders for Germany's important manufacturing sector surged in August , more than compensating for July's unexpected decline.

The U.K.'s FTSE 100 index rose 0.1% to 7,561.60, boosted by a weaker pound. Sterling fell to $1.3076 from $1.3118 late Thursday on New York, as speculation mounted that the U.K. is headed for another early general election after Prime Minister Theresa May came under pressure.

The pound was on track for a 2.4% weekly loss, its worst week since the early October flash crash a year ago.

.

Stock movers: Shares of Ryanair Holdings PLC (>> Ryanair Holdings plc) fell 1.6% after the discount carrier's Chief Executive Michael O'Leary promised to boost pilots' pay , in a move seen as an attempt to ease recent tensions.

Shares of EasyJet PLC (>> EasyJet) fell 2.3% after the discount airline said it expects profit for fiscal 2017 to be at the upper end of its guidance range, but also highlighted pressures facing the sector.

Daimler AG (>> Daimler) rose 0.7% after the German car maker said its Mercedes-Benz group sold 3.7% more vehicles in September , with increased SUV sales and a rise in Chinese demand.

In the same industry, Renault SA (>> Renault) advanced 1.7% after the French company said it aims to bump up sales outside Europe as part of a strategic six-year plan published Friday .

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Markets"
01:37a Asia shares camp near peaks, China's Xi talks reform and stability
12:14aDJEUROPEAN MORNING BRIEFING : Stocks Likely to Struggle Again
10/17DJASIA MARKETS : Asian Markets Continue To Rise As China's Party Congress Starts
10/17 U.S. dollar up, yield curve flat, on inflation; stocks rise
10/17 WALL STREET STOCK EXCHANGE : Dow pierces 23,000 but ends below milestone
10/17 TSX grinds higher as Bombardier soars on Airbus deal
10/17 U.S. dollar up, yield curve flat, on inflation; stocks rise
10/17DJMARKET SNAPSHOT : Dow, S&P 500 End At Records, Boosted By Health Care Stocks
10/17 European shares slip from highs as results, commodities weigh
10/17DJLONDON MARKETS : FTSE 100 Ends Lower As U.K. Inflation Hits 5-year High
Latest news "Markets"
Advertisement