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

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 Anamanhttps://aanaman.me
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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