European markets close lower in short, lackluster trading week; Ocado down more than 8% – CNBC

European stock markets fell on Friday, with the benchmark Stoxx 600 index losing 0.88% and all sectors in the red.

Germany’s DAX fell 1.3%, while France’s CAC 40 was down 1.1% and Britain’s FTSE 100 was down 0.8%.

March nonfarm payrolls numbers were higher than expected Friday morning, another sign of the resilience of the U.S. labor market.

The U.S. economy added 303,000 jobs last month, surpassing the 200,000 expected by economists surveyed by the Dow Jones. The unemployment rate was 3.8%.

The average hourly wage increased 0.3% in March and 4.1% over the past year. The average work week was 34.4 hours.

—Jesse Book

Shares of Ocado fell more than 8% in afternoon trading, after the British online grocery retailer announced that its chairman, Rick Haythornthwaite, would resign next year over his increased commitments as group chairman of NatWest bank.

The stock was down 8.3% as of 1:55 p.m. London time.

-Karen Gilchrist

Euro zone retail sales fell 0.5% in February, according to new preliminary data released on Friday.

This drop, in line with economists’ expectations, marks the third consecutive month where sales have not increased, putting a damper on hopes of a consumer-led recovery.

At the same time, construction in the eurozone fell in March due to subdued demand.

-Karen Gilchrist

Shares of Delivery Hero fell 3.4% in morning trading on Reuters reports that activist investor Sachem Head has acquired a 3.6% stake in the German delivery business and may seek to oust CEO Niklas Oestberg.

Conversely, Finnish oil refinery Neste rose 2.6% as its Porvoo refinery undergoes a maintenance upgrade.

-Karen Gilchrist

UK house prices fell 1% in March, following five consecutive months of increases, new data from mortgage lender Halifax showed on Friday.

Compared to the previous year, prices increased by 0.3%, down from the 1.6% annual increase recorded in February.

Kim Kinnaird, director at Halifax Mortgages, said the drop was not surprising given the path forward for reducing interest rates remains uncertain.

“Financial markets have also become less optimistic about the scale and timing of base rate cuts as underlying inflation proves more stubborn than expected. This has halted the decline in mortgage rates that had contributed to stimulate market activity at the turn of the year.” she says.

-Karen Gilchrist

Analysts became more bullish on six stocks around the world this week, increasing their price targets.

The price target changes come ahead of the upcoming earnings season covering the first quarter of this year.

CNBC Pro selected global stocks that have received price target hikes from five or more analysts in the past seven days and have upside potential of more than 25%.

CNBC Pro subscribers can learn more about the six stocks here.

-Ganesh Rao

Portfolio manager Barbara Doran revealed a number of her favorite stocks, reiterating her bullish outlook on the stock market in general.

“People are hesitant to embrace this bull market after a few years of deep skepticism. But that’s what bull markets do. They make new highs,” she told CNBC.

His top picks include high-performing Nvidia, struggling aerospace giant Boeing and more.

CNBC Pro subscribers can learn more here.

-Amala Balakrishner

European markets are expected to have a mixed opening on Friday.

Britain’s FTSE 100 index is expected to open 38 points higher at 7,975, Germany’s DAX up 35 points at 18,403, France’s CAC down 2 points at 8,151 and Italy’s FTSE MIB down 26 points to 34,454, according to IG data.

Investors will keep an eye on new data on eurozone retail sales and construction, as well as UK house sales.

-Karen Gilchrist