European stocks slid, completing their first weekly decline since January, as Russia said it may cut off Ukraine’s gas, outweighing a report that showed the U.S. economy created more jobs last month than forecast.
The Stoxx Europe 600 Index dropped 1.3 percent to 333.06 at the close of trading. The benchmark has fallen 1.5 percent this week amid concern that Russia would intervene in Ukraine, resulting in sanctions and disrupted trade. European equities slid 2.3 percent on March 3 after Russia’s parliament authorized President Vladimir Putin to send troops into Ukraine.
Russia said Ukraine must pay off almost $2 billion owed for natural gas today and signaled supplies may otherwise be cut. The two countries have clashed over control of Ukraine’s Crimea region, where a majority of people speak Russian. Lawmakers in Moscow said they would accept the results of a March 16 referendum on Crimea joining Russia, while Ukrainian Prime Minister Arseniy Yatsenyuk reiterated that his cabinet deems the vote illegal.
A Labor Department report showed that employers in the U.S. added 175,000 jobs in February. That exceeded the median estimate of 149,000 net hires in a Bloomberg News survey of economists. The government revised its figure for January to 129,000 from 113,000.
A release yesterday showed claims for unemployment benefits fell to a three-month low last week, indicating that companies are holding on to staff because they anticipate economic growth will rebound following the harsh winter weather.
Benchmark indexes retreated in every western-European market except Greece. Germany’s DAX fell 2 percent, while France’s CAC 40 dropped 1.2 percent. The U.K.’s FTSE 100 slipped 1.1 percent.
Getinge slumped 21 percent to 182.80 kronor. The Swedish maker of sterilization systems forecast first-quarter pretax profit of 160 million kronor ($25 million), roughly a quarter of the average analyst estimate of 629 million kronor. A gauge of health-care companies on the Stoxx 600 fell 1.4 percent.
Fugro declined 2.1 percent to 40.83 euros. The Dutch company posted revenue of 2.42 billion euros ($3.4 billion) for last year, less than the 2.63 billion euros that analysts had estimated. Its net income of 428 million euros fell short of the 444 million-euro average in a Bloomberg survey.
Air France-KLM climbed 4.4 percent to 10.40 euros, rising for the fourth day to its highest price since July 2011. Europe’s largest airline said it flew 5.34 million passengers in February, a 1.8 percent increase from a year earlier.
FLSmidth & Co. added 2.5 percent to 295.60 kroner. The Danish mining-equipment supplier named Lars Vestergaard as its new chief financial officer, saying Ben Guren will leave the company for personal reasons.
U.S. stock futures rose as a faster-than-estimated jump in payrolls indicated the economy is starting to bounce back from a weather-induced setback.
Global markets:
Nikkei 15,274.07 +139.32 +0.92%
Hang Seng 22,660.49 -42.48 -0.19%
Shanghai Composite 2,057.91 -1.67 -0.08%
FTSE 6,791.24 +2.75 +0.04 %
CAC 4,424.28 +7.24 +0.16 %
DAX 9,517.78 -25.09 -0.26 %
Crude oil $102.04 (+0.47%)
Gold $1337.00 (-1.09%).
European stocks fell , heading for its first weekly decline since January , which is associated with a fall sensor healthcare companies, as well as expectations of U.S. employment data. U.S. index futures are mixed , while Asian stocks rose .
According to the median forecast of economists , farm employment in February increased from 113 thousand to 151 thousand , while maintaining the level of unemployment at around 6.6 %, which would be welcomed by the markets. However, published earlier in the week ADP figure was worse than expected and so the official figures may also disappoint. Meanwhile, the positive signals are stored . Yesterday, the U.S. Labor Department reported that the number of initial claims for unemployment benefits in the U.S. last week fell by 26 thousand and reached 323 thousand Analysts believed that the number of jobless claims to fall by only 12 thousand
The Stoxx Europe 600 Index fell 0.4 percent. Since the beginning of the week , the index fell by 0.6 percent. We add that the Stoxx 600 fell 2.3 percent on March 3 after the Russian parliament authorized the President Vladimir Putin to send troops to Ukraine. U.S. President Barack Obama signed an executive order authorizing financial sanctions , while EU leaders stopped trade and visa negotiations with Russia and threatened punitive economic measures .
Getinge shares fell 18 percent. The Swedish company said first-quarter profit before tax amounted to 160 million euros ( 25 million dollars), compared with the average estimate at 629 million kroons.
Fugro cost decreased by 6.6 percent . The Dutch company reported revenue in the amount of 2.42 billion euros last year , which was less than estimates - at the level of 2630 million euros.
Paper Air France-KLM rose 4.2 percent , recording the fourth -session increase in a row and reached the highest level since July 2011 . The largest airline in Europe, said that the number of passengers in February, increased in February by 1.8 percent compared with a year earlier.
At the current moment
FTSE 100 6,785.29 -3.20 -0.05 %
CAC 40 4,412.44 -4.60 -0.10%
DAX 9,505.98 -36.89 -0.39%
Asia’s benchmark stock index headed for its fourth straight weekly advance as investors awaited U.S. jobs data. Energy and industrial shares led gains today.
Nikkei 225 15,274.07 +139.32 +0.92%
S&P/ASX 200 5,462.31 +16.42 +0.30%
Shanghai Composite 2,057.91 -1.67 -0.08%
China Petroleum & Chemical Corp., the refiner better known as Sinopec, climbed 3.4 percent in Hong Kong after Premier Li Keqiang reiterated this week that China would allow private investment in oil and power projects.
Fanuc Corp., a factory-robotics maker that get 78 percent of sales overseas, gained 1.8 percent in Tokyo as exporters advanced with the yen trading near a five-week low against the dollar.
Great Wall Motor Co. dropped 2.5 percent in Hong Kong after reporting slower sales.