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European stocks edge lower ahead of NFP

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 6, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The stocks on the European bourses opened on a weaker note and remained in the red, as traders turned cautious ahead of the US jobs data, which could hint a Dec Fed rate rise. While mixed earnings results also kept the regional indices subdued.

    Meanwhile, markets continue to digest mixed economic news from the Euro zone and the UK. Industrial output in Germany fell 1.1% in Sept, after reporting a revised 0.6% decline in Aug.

    From the UK, the manufacturing activity declined 0.4% overall during Q3, and the growth of total industrial production was revised from 0.3% down to 0.2%. While the trade deficit narrowed to £1.35 billion in September, shrinking more than forecast from a gap of £2.9 billion a month before.

    During mid-European trades, Germany’s DAX loses -0.23% to 10,860 points, while the UK’s FTSE trades muted at 6,365. Among the other indices, the French CAC 40 index drops -0.75% to 4,944, after French drug maker Sanofi stated that it did not expect any meaningful profit growth over the next two years. The shares of the company slumped 5%. While the pan-European Euro Stoxx 50 index declines -0.45% to 3,432 points.
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