UPDATE 1-No set trend for European shares as focus turns to U.S. jobs

From Reuters - March 9, 2018

LONDON (Reuters) - European shares held steady on Friday morning as investors digested the announcement of U.S. tariffs on steel and aluminum and awaited the U.S. jobs report due out later.

It was upbeat jobs data last month that fanned speculation of faster rate rises in the United States, causing a rout in the bond market and hammering world equities.

If wage growth picks up further and structurally, the Fed will have more confidence in hiking rates several times in 2018, Rabobank analysts wrote.

The pan-European STOXX 600was down 0.1 percent by 0923 GMT, with most sectors in the red except for defensive industries such as health care or utilities which made limited gains. There was also caution over the apparent new entente between North Korean leader Kim Jong Un and U.S. President Donald Trump.

A number of corporate updates disappointed.

Shares in Lagardere (LAGA.PA), the French media group behind the likes of Paris Match and Europe 1 radio, saw the biggest decline on the Stoxx, down 5.9 percent after disappointing annual results.


Continue reading at Reuters »