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(For a Reuters blog on U. S. stock markets)USA, UK and Europe, click LIVE/ or type LIVE/ in a news window)
* TAG Immobilien reaches an all-time low in its capital accumulation plan
* U. S. Nonfarm Payroll Reportat 12:30 GMT (add comments, details; update prices)
By Devik Jain
July 8 (Reuters) – European stocks fell on Friday, weighed down by miners, as copper costs fell amid considerations over new RESTRICTIONS and COVID-19 outbreaks in China, while investors also maintained a cautious stance on monthly U. S. employment data. USA
The six-hundred-hundred-cent stoxx continental index fell 0. 1%, after 3. 6% in the past two sessions.
Europe’s fundamental resources sector fell 1. 6%, a day after jumping 5. 4% on hopes of a new Chinese recovery.
Globally, sentiment faltered after former Japanese Prime Minister Shinzo Abe was shot dead while campaigning for parliamentary elections, raising bets for the yen as a safe haven.
Stocks have remained volatile this year as investors questioned whether market valuations had become exciting after a sharp sell-off amid fears that central banks could simply cause a recession with competitive increases in inflation rates. Minutes of the European Central Bank’s June assembly showed Thursday that politicians debated a further interest rate hike for July, while two of the U. S. Federal Reserve’s most vocal hawks were discussed in the U. S. Federal Reserve. The U. S. subsidized another rate increase of 75 basis points later this month.
“In fact, I don’t think stocks will recover anytime soon, especially given the way financial policy will temporarily tighten not only in the United States, but also in Europe,” said Michael Brown, head of market information at Caxton.
“So in this environment, any rally we see in stocks is probably short-lived and the dealer deserves to come back pretty quickly. “
The euro has fallen towards parity with investors worried about an energy surprise in Europe due to its dependence on Russian gas.
Investors are now focusing on the upcoming corporate earnings season, which they say may lead to another sharp drop in global inventory prices, with earnings forecasts too positive given the risks of a developing recession.
The U. S. nonfarm payroll report is expected to be reported. The U. S. economy, which is expected by 12:30 GMT, shows that job expansion slowed in June and that the unemployment rate remained unchanged at 3. 6 percent, underscoring a tight hard labor market.
Among the individual shares, TAG Immobilien fell 12% after the German real estate company announced it would raise 201. 80 million euros ($201. 80 million) to refinance its latest acquisition in Poland.
Leonardo’s shares rose 5. 4% after the Italian defense organization in a consortium that added Telecom Italia exercised a right of preference that allowed it to participate in a competing bid in the tender to establish a national cloud infrastructure.
Supporting the STOXX 500 index, the oil and fuel sector followed crude oil costs higher to rise 1%.
($1 = 0. 9911 euros)
(Reporting via Devik Jain in Bengaluru; Editing through Rashmi Aich and Sherry Jacob-Phillips)