Global stock markets fall ahead of US jobs data
Friday, 02 September 2011 02:16
European stock markets fell today in the mornings trading as investors wait nervously for US jobs data due later today.
After a week when many of the European markets made some gains following a tough few weeks stocks fell. By midday, the FTSE 100 in London had fallen by two per cent, whilst in Paris, the Cac 40 index fell by 2.8 per cent and Germany’s Dax fell 3.1 per cent.
This follows disappointing manufacturing figures across the globe, released yesterday. Additionally, construction figures released today in the UK showed that the sector had grown by the lowest amount for eight months.
Overnight, Asian shares also fell, following the lead of the Dow Jones yesterday, which closed one per cent lower.
In the UK, banks shares suffered the most, after performing well earlier in the week. By lunchtime today, Barclays had fallen by five per cent and Lloyds by 4.7 per cent.
eanwhile, German bank, Commerzbank saw its shares fall by 5.3 per cent and French bank Credit Agricole saw its shares fall by 4.6 per cent.
The latest slip in shares comes after more disappointing economic data from around the globe rounding of a poor summer in which the FTSE 100 saw £125 billion wiped off the value of its shares in just five days little more than a month ago.
It remains to be seen what the numbers on US jobs and labour will say, and what impact this will have on the markets.
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