European stock markets drop at open

Discussion in 'News Feeds' started by Business Insider, Aug 6, 2015.

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    London (AFP) - Europe's main stock markets fell at the start of trading on Thursday, the eve of US jobs data that could cement expectations of a Fed rate rise next month.

    London's benchmark FTSE 100 index slid 0.43 percent to 6,723.69 points, with the Bank of England set to keep its main interest rate at 0.50 percent in a decision due Thursday.

    Frankfurt's DAX 30 dropped 0.26 percent to 11,605.59 points and the CAC 40 in Paris shed 0.20 percent to stand at 5,186.55.

    Europe's leading stock markets had closed higher Wednesday.

    Positive US data has meanwhile strengthened the case for an interest rate hike from the Federal Reserve as early as next month.

    US stocks finished mostly higher Wednesday, but a disappointing earnings report from Disney weighed on the Dow Jones Industrial Average.

    Traders are now focusing on Friday's official US employment figures, after payroll firm ADP estimated that the private sector in the world's biggest economy added 185,000 jobs in July, much below the analyst estimates.

    The data was offset however by a separate release Wednesday from the Institute for Supply Management, which said the US service sector expanded 4.3 percent in July to a record high.

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