2023-07-07 08:12:26
Europe shares
European stocks fell on Friday, continuing the heavy losses incurred in the previous session, in the wake of US data that showed that the labor market remained strong, while investors await an important report on US jobs, which is scheduled to be issued later in the day, to search for other clues regarding expectations regarding course of interest rates.
And by 0710 GMT, the pan-European Stoxx 600 index fell 0.4 percent, heading for its worst weekly performance since mid-March. The utilities sector led the losses, as it recorded a decline of 1.2 percent.
The Financial Times 100 Index fell by 0.6 percent.
European stocks fell on Thursday following data showed that US private sector payrolls expanded much more than expected in June, indicating continued labor market strength despite rising recession risks.
The data also led to an increase in US Treasury yields for two years to the highest level in 16 years, and yields for ten-year Treasury bonds in Britain rose to the highest level since 2008.
Investors are awaiting the US Nonfarm Payrolls report, which is scheduled to be released at 1230 GMT. The report is expected to show a decrease in the number of new jobs in the United States in June compared to the previous month.
Shell fell 0.2 percent following Europe’s largest oil and gas company said on Friday that it expects second-quarter turnover in its gas unit to be “significantly lower” compared to the previous quarter.
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European stocks
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