After a week of big moves, the European markets were relatively calm on Friday morning, oh so slightly slipping back into the red.
The FTSE, which was unable to match the growth seen in the Eurozone on Thursday, fell 0.4%. That dragged the index back below 7500, hurt by the 1%-plus losses seen from its mining and banking stocks, and the continued decline of BP (LON:BP) and Shell (LON:RDSa).
Having spent Thursday teasing an all-time high, the DAX went in reverse as the session began, dipping under 13550 following a 0.2% slide. The CAC, on the other hand, held at 6040 as it opened the day unchanged.
As for the Dow Jones, after bottling its own chance to close at a record high, the US index is expected to start the session down 50 points later this afternoon, taking it to 29320.
That will likely change, however, dependent on the state of the latest nonfarm jobs report. Analysts are expecting wage growth to rise from 0.1% to 0.3%, with the unemployment rate steady at 3.5%. The headline nonfarm figure, meanwhile, is forecast to climb from 145k to 163k, though investors may be hoping for a more robust number after a strong ADP (NASDAQ:ADP) reading on Wednesday.
"Disclaimer: Spreadex provides an execution only service and the comments above do not constitute (or should not be construed as constituting) investment advice or recommendations, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any person placing trades based on their interpretations of the above comments does so entirely at their own risk. Spreadex Ltd is a financial and sports spread betting and sports fixed odds betting firm, which specialises in the personal service and credit area. Founded in 1999, Spreadex is recognised as one of the longest established spread betting firms in the industry with a strong reputation for its high level of customer service and account management.
In relation to spread betting, Spreadex Ltd is authorised and regulated by the Financial Conduct Authority. Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone, so please ensure you fully understand the risks involved."