|09-07-2014, 02:26 AM||#1|
European shares retreat as discouraging jobs report dents sentiment
European shares ended the week on a weak performance on Friday, with global equities pressured by a disappointing U.S. jobs report.
The U.S. economy unexpected added only 142,000 jobs in August, the smallest increase since December 2014.
Economists had expected an addition of 230,000 jobs in the month. Although the weak jobs data might ease pressure on the Federal Reserve to hike interest rates, investors may be worried about the start-and-stop nature of the U.S. recovery.
In economic news from the eurozone, a report from Eurostat showed eurozone GDP remained flat in the second quarter, expanding just 0.2 percent. Year on year, GDP grew 0.7 percent in the second quarter, after seeing a 1 percent expansion in the previous three months.
- Stoxx 600 lost 0.38 percent or 1.32 points to 347.57
- Stoxx 50 dropped 0.06% or 2.00 points to 3275.25
Ukrainian President Petro Poroshenko in a statement said representatives have signed an agreement to halt fighting between Ukrainian forces and pro-Russia rebels, starting at 6 p.m. Kiev time.
"I hope that these agreements, including cease-fire and liberation of hostages, will be strictly observed," said Poroshenko. Russian news agency Interfax reported pro-Russia rebels also agreed to halt fire.
Poroshenko earlier Friday said he was "cautiously optimistic" about the peace talks. According to news reports, fighting had still been taking place near the port city of Mariupol in southeastern Ukraine.
Although Friday`s peace talks had been anticipated, U.S. and European leaders at a North Atlantic Treaty Organization summit in Wales still discussed imposing tougher sanctions on Russia over the Ukraine crisis, and there were signs that some countries could decide to send weapons to Kiev.
-The British FTSE 100 lost 0.33% or 22.87 points to 6855.10
-The French CAC 40 lost 0.19% or 8.45 points to 4486.49
-Frankfurt’s DAX 30 advanced 0.23% or 22.76 points to 9747.02
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