European Shares Struggle For Direction Ahead Of US Jobs Data

(RTTNews) - European shares were little changed in lackluster trade on Friday, as investors awaited a key U.S. jobs report due later in the day that could shed more clarity on labor market conditions.

The upside, if any, was capped by weak data releases from Germany and the U.K.

German industrial output dropped 0.8 percent on a monthly basis in August after remaining flat in July as raw material shortages and supply chain bottlenecks continued to dampen the functioning of many industries, Destatis said. Production was forecast to ease 0.5 percent.

Retail sales also weakened in August signaling weak contribution to growth from household spending amid rising energy prices.

Retail sales eased 1.3 percent from July compared to the expected drop of 1.1 percent.

The U.K. house price index climbed 9.9 percent year-over-year in September, slower than the 11.4 percent increase in the previous month, survey data from the Lloyds Bank subsidiary Halifax showed.

The pan European Stoxx 600 was marginally higher at 396.70 after declining 0.6 percent on Thursday.

The German DAX and France's CAC 40 index were little changed with a positive bias, while the U.K.'s FTSE 100 was up 0.1 percent.

STMicroelectronics lost 2 percent and ASMI gave up 1.6 percent on the back of weak earnings and forecasts from Samsung and Advanced Micro Devices.

Credit Suisse surged 6 percent after the embattled Swiss lender said it would buy back up to 3 billion Swiss francs ($3 billion) of senior debt securities.

Adidas fell 1.3 percent after the German sporting goods maker said it was reviewing its relationship with rapper and fashion designer Kanye West.

Superdry jumped 17 percent. The British fashion brand has returned to profit after pandemic induced losses.

Pub group Wetherspoons soared 9.5 percent after narrowing its annual loss.