European Shares Mixed Ahead Of US Jobs Data

(RTTNews) - European stocks struggled for direction on Friday as bond yields remained elevated ahead of the all-important U.S. jobs report due later in the day.

The nonfarm payrolls report may reveal a moderation in job growth for December, but the jobless rate is seen holding at 4.2 percent, supporting the Federal Reserve's cautious stance on interest rate cuts this year.

Amid ongoing worries about Trump's policies, Fed funds futures trading data currently price in only about a 7 percent chance of a quarter-point cut at the next Federal Reserve policy meeting later this month.

Closer in Europe, the European Central Bank is widely expected to cut interest rates at least four times in 2025 to help the region's stagnating economy.

On a light day on the economic front, French industrial production grew 0.2 percent in November from October, when it was down 0.3 percent, statistical office INSEE reported earlier today. Economists had forecast a monthly fall of 0.1 percent.

Another report revealed that French household consumption advanced unexpectedly by 0.3 percent on a monthly basis in November, offsetting the revised 0.3 percent fall in October. Spending was forecast to edge up 0.1 percent.

The pan European STOXX 600 was marginally lower at 515.75 after rising 0.4 percent in the previous session.

The German DAX was little changed at 20,335 as the yield on the German 10-year bund hit its highest level in six months.

France's CAC 40 edged up by 0.2 percent while the U.K.'s FTSE 100 was marginally higher.

The British pound pared an early decline but still traded below $1.23.

In corporate news, ASML International rose about half a percent after Taiwanese chip making giant TSMC reported quarterly sales that topped estimates.

Ubisoft Entertainment plunged 8 percent after the French gaming giant yet again delayed the release of its blockbuster franchise Assassin's Creed.

Philips added 1.5 percent after appointing Jie Xue as Chief Business Leader Precision Diagnosis, and Özlem Fidanci as Chief of International Region.

Nordex SE rose over 2 percent. The German wind turbine maker announced that it has received orders for 259 MW wind turbines from four different customers in Spain.