European Shares Slip Ahead Of Key Eurozone, US Data

(RTTNews) - European stocks fell on Friday and eyed their first weekly loss in eight as investors awaited euro area consumer and producer inflation reports as well as U.S. non-farm payrolls data later in the day for important clues as to whether the European Central Bank and the Federal Reserve would cut interest rates this year.

Fears of an escalation of the Israel-Hamas war into a broader regional conflict also dented investor sentiment.

Meanwhile, German retail sales decreased 2.5 percent in November compared with the previous month, wiping out the 1.1 percent gain registered in October, according to the federal statistics office, Destatis. Analysts had expected a 0.1 percent decrease.

U.K. house prices increased for the third successive month in December, largely reflecting a shortage of properties, while they are expected to slump this year, the results of a survey by the Lloyds Bank subsidiary Halifax and S&P Global showed earlier today.

House prices climbed 1.1 percent month-on-month in December, faster than the 0.6 percent increase in November. Economists had expected a modest 0.1 percent rise for the month.

The pan-European STOXX 600 was down 0.6 percent at 474.69 after gaining 0.7 percent on Thursday.

The German DAX gave up 0.6 percent, France's CAC 40 fell 0.9 percent and the U.K.'s FTSE 100 was down 0.8 percent.

Swedish Orphan Biovitrum AB was little changed. The pharmaceutical company said that its chairman Bo Jesper Hansen has resigned due to health reasons.

Revolution Bars Group shares slumped 23 percent in London. The company, which operates bars and gastropubs, has said that the sites in Derby, Reading, St Peters Liverpool and Wilmslow will close.

Gold producer Endeavour Mining plunged 10 percent after removing CEO Sebastien de Montessus with immediate effect.

Clarkson, a provider of integrated shipping services, jumped nearly 8 percent after saying that it expects its full-year pre-tax earnings above current market expectations following strong trading throughout the final quarter.

Sodexo S.A. shares fell more than 2 percent. The French food and facilities management services provider reported 3.1 percent higher revenue for the first quarter and reiterated its guidance for fiscals 2024 and 2025.