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European markets open to close as investors react to U.S. jobs data

European markets opened lower on Friday as investors closely monitored news from China over its zero-Covid policy and looked ahead to U.S. non-farm payrolls data.

Britain’s FTSE 100 index, France’s CAC and Germany’s DAX all fell, and all sectors were in the red. Oil and gas led losses, down 1% shortly after the open.

It comes shortly after the European Union tentatively agreed to a $60 barrel price cap on Russian seaborne oil, according to a document seen by Reuters. The price cap, an idea proposed by the Group of Seven, still requires approval from all 27 EU governments in a written procedure on Friday.

Data releases in Europe include German import and export data and producer prices for the euro zone.

The pan-European Stoxx 600 closed down 0.1% in the previous session.

Markets in Asia-Pacific were lower on Friday after China signaled a slight easing of its stringent Covid restrictions. Stocks in Japan led losses, with the Nikkei 225 last seen 1.6% lower and the Topix falling 1.6%.

Stateside, S&P 500 futures were slightly lower as market participants looked ahead to the November jobs report.

Economic data including the Labor Department’s report on non-farm payrolls, the unemployment rate and hourly wages are due at 8:30 a.m. ET on Friday. Economists expect the economy to have added 200,000 jobs in November, according to Dow Jones. That would be a decrease from the 261,000 it added in October.

Abdullah Anaman
Abdullah Anaman
I am a highly competent IT professional with a proven track record in designing websites, building apps etc. I have strong technical skills as well as excellent interpersonal skills, enabling me to interact with a wide range of clients.


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