Investing.com - European stocks turned broadly lower on Friday, despite the release of positive German data, as markets were jittery ahead of a highly anticipated U.S. employment report due later in the day.
During European afternoon trade, the EURO STOXX 50 declined 0.36%, France’s CAC 40 fell 0.20%, while Germany’s DAX 30 retreated 0.70%.
Official data showed that German industrial production rose 1.8% in April, beating expectations for a 0.2% fall, after a 1.2% increase the previous month.
The data came after a separate report showed that Germany's trade surplus expanded unexpectedly in April, rising to EUR17.7 billion from a surplus of EUR17.6 billion the previous month. Analysts had expected the trade surplus to narrow to EUR17.2 billion in April.
Meanwhile, investors eyed upcoming U.S. jobs data after the Department of Labor on Thursday said the number of people who filed for unemployment assistance last week fell by 11,000 to 346,000, compared to expectations for a decline of 12,000 to 345,000.
The data came one day after weak U.S. private sector jobs data lowered expectations that the Federal Reserve would begin to unwind its asset purchase program this year.
Financial stocks were mixed. In France, BNP Paribas inched up 0.01% and Societe Generale slipped 0.12%, while Germany's Deutsche Bank gained 0.69%.
Peripheral lenders trended lower on the other hand, with Spanish banks Banco Santander and BBVA retreating 0.37% and 0.99% respectively, while Italy's Intesa Sanpaolo and Unicredit tumbled 0.81% and 2.69%.
Elsewhere, Deutsche Telekom advanced 0.69% after Jefferies raised the stock to "buy" from "hold", citing the company’s structural changes.
In London, FTSE 100 slid 0.26%, weighed by losses in financial stocks, while official data showed that the U.K.'s trade deficit narrowed more-than-expected in April.
HSBC Holdings plummeted 1.51% and Lloyds Banking tumbled 1.38%, while the Royal Bank of Scotland and Barclays declined 0.95% and 0.26s%.
Meanwhile, mining stocks remained on the upside. Rio Tinto climbed 0.63%, while Glencore and Fresnillo surged 2.33% and 3%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.16% decline, S&P 500 futures signaled a 0.14% loss, while the Nasdaq 100 futures indicated a 0.15% fall.
Later in the day, the U.S. was to release government data on nonfarm payrolls and the unemployment rate.
During European afternoon trade, the EURO STOXX 50 declined 0.36%, France’s CAC 40 fell 0.20%, while Germany’s DAX 30 retreated 0.70%.
Official data showed that German industrial production rose 1.8% in April, beating expectations for a 0.2% fall, after a 1.2% increase the previous month.
The data came after a separate report showed that Germany's trade surplus expanded unexpectedly in April, rising to EUR17.7 billion from a surplus of EUR17.6 billion the previous month. Analysts had expected the trade surplus to narrow to EUR17.2 billion in April.
Meanwhile, investors eyed upcoming U.S. jobs data after the Department of Labor on Thursday said the number of people who filed for unemployment assistance last week fell by 11,000 to 346,000, compared to expectations for a decline of 12,000 to 345,000.
The data came one day after weak U.S. private sector jobs data lowered expectations that the Federal Reserve would begin to unwind its asset purchase program this year.
Financial stocks were mixed. In France, BNP Paribas inched up 0.01% and Societe Generale slipped 0.12%, while Germany's Deutsche Bank gained 0.69%.
Peripheral lenders trended lower on the other hand, with Spanish banks Banco Santander and BBVA retreating 0.37% and 0.99% respectively, while Italy's Intesa Sanpaolo and Unicredit tumbled 0.81% and 2.69%.
Elsewhere, Deutsche Telekom advanced 0.69% after Jefferies raised the stock to "buy" from "hold", citing the company’s structural changes.
In London, FTSE 100 slid 0.26%, weighed by losses in financial stocks, while official data showed that the U.K.'s trade deficit narrowed more-than-expected in April.
HSBC Holdings plummeted 1.51% and Lloyds Banking tumbled 1.38%, while the Royal Bank of Scotland and Barclays declined 0.95% and 0.26s%.
Meanwhile, mining stocks remained on the upside. Rio Tinto climbed 0.63%, while Glencore and Fresnillo surged 2.33% and 3%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.16% decline, S&P 500 futures signaled a 0.14% loss, while the Nasdaq 100 futures indicated a 0.15% fall.
Later in the day, the U.S. was to release government data on nonfarm payrolls and the unemployment rate.