Europe opens lower as markets pause ahead of US jobs data
Summary
The pan-European STOXX 600 index opened 0.09 percent lower with all sectors in negative territory except for autos, banks, financial services, insurance and utilities.
European stocks opened lower on Wednesday as global markets gear up for Friday’s US jobs report.
Global markets appear to be turning cautious ahead of the all-important US jobs data due on Friday. The non-farm payrolls report will be eagerly watched by the US Federal Reserve and could determine whether the central bank increases interest rates in September.
Markets in Asia opened mixed on Wednesday, with Japanese shares gaining on the back of a weaker yen, while traders awaited the key August US nonfarm payroll data due Friday. Meanwhile in the US on Tuesday, stocks closed lower as investors analyzed strong consumer data and also looked ahead to the jobs report.
In business news, the fallout has continued from the European Commission’s ruling on Tuesday that Ireland must recover 13 billion euros ($14.5 billion) in back taxes from US tech giant Apple. Both Ireland and Apple have said they will appeal the decision and Washington criticized the move.
In other news, French Economy Minister Emanuel Macron resigned on Tuesday in order to work on his plan “to transform France” but there is speculation that he will run in the 2017 presidential election.
Meanwhile, British consumer confidence bounced back in August after a Brexit blip, a survey by GfK showed on Wednesday.
Flash euro zone inflation data for August and euro zone unemployment data for July are due on Wednesday but there are no major earnings.
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