FXStreet (Mumbai) – European stocks extended losses today after suffering biggest decline since August on Thursday as investors remain depressed due to Draghi’s decision to hold QE size unchanged.
The pan-European Euro Stoxx 600 index currently trades 0.40% lower around 370.57 levels. Among regional indices, Germany’s DAX was down 0.60%, while France’s CAC was down 0.70%. The mining-heavy UK’s FTSE index was down 0.40%.
Shares in Berkeley group PLC were the top performer in the Euro Stoxx 600 index; up 7%. The minus side had the shares in National Bank of Greece; down 20.59%.
Hopes of a strong new round of ECB stimulus had pushed the Stoxx 600 to a three-month high on Monday. The investors now await the US November non-farm payrolls report, which is likely to show the economy added 200K jobs, while the unemployment rate stayed unchanged at 5%. Traders would also see if the average weekly earnings are holding up well.
However, it may turn out to be a non-event since the markets consider the liftoff as a done deal. The markets could react to the data only, if the payrolls report (surprisingly strong/weak) triggers a major adjustment in the Fed rate hike bets.
(Market News Provided by FXstreet)