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European Stocks Are Mixed After US Payrolls


European stocks were mixed as investors looked over the monthly non-farm payrolls numbers from the US to gauge the health of the world’s biggest economy following devastating hurricanes that swept through Florida and the Carribean.

Payrolls contacted by 33,000 last month, according to the Department of Labor, while the consensus on Econoday was for an addition of 100,000.

“Let’s just say that this would be more of a damage report due to the hurricanes,” Naeem Aslam, chief market analysts at Think Markets in London, said in an e-mail ahead of the report. “What the smart money would be doing is to keep in mind that there would be several revisions of this number, so the investors are going to take this number with a pinch of salt. Such strategy would enable them to strike with a vengeance when the best opportunity would present itself.”

The pan-European STOXX 600 index slipped 0.3% after closing 0.2% higher in the previous session. Most sectors were in negative territory. The index is up about 0.4% on the week.

In equities, construction and building material firms were under pressure after Irish building materials firm CRH was outbid by an investor for US cement maker Ash Grove Cement, which said it received a takeover offer valued at up to $3.8 billion, according to reports. CRH fell 1.7% in Dublin. LafargeHolcim fell 0.4% in Paris.

Lloyds Banking Group fell 1.5% in London and Commerzbank slid 0.9% in Frankfurt. The industrial company ThyssenKrupp fell 1.4% in Frankfurt.

Mediclinic International and the insurer Admiral were the biggest gainers in London, adding 2.1% and 1.9%, respectively. The supermarket chain Carrefour was down 1.1% in Paris.

The euro-region, blue-chip STOXX 50 index slid 0.2% and the DAX in Frankfurt was down 0.2%. The FTSE 100 in London gained 0.2% and the CAC 40 in Paris dropped 0.3%. The IBEX in Madrid fell 0.3% amid uncertainty triggered by Sunday’s independence vote in the region of Catalonia.