European stocks edged down from record highs on Thursday as markets await crucial US employment data.
Up 13% this year, the Stoxx Europe 600 SXXP,
US ES00 equity futures contracts,
were slightly weaker. The S&P 500 SPX,
closed Wednesday with a slight gain of 0.1% to reach the third highest in history.
Ahead of the release of Friday’s jobs report, ADP will release its estimate of the private sector wage bill, and the Institute for Supply Management will report on the Service Purchasing Managers Index.
It will also be the first opportunity to react to the announcement of the Federal Reserve’s sale of its portfolio of corporate bonds acquired during the crisis. A bipartisan infrastructure spending program is still possible after President Joe Biden and Republican Senator Shelley Moore Capito agreed to hold another round of talks on Friday.
French construction materials company Saint-Gobain SGO,
rose 4% after forecasting a record operating profit in the first half of the year.
B&M European Value Retail BME,
fell 3% as the retailer said like-for-like UK sales in the first nine weeks of fiscal 2022 fell 1% as it forecast lower margins for the year. In France, he said sales have been “satisfactory” since the lockdown ended on May 19. B&M more than doubled profit in the year ending March 27 with 24% like-for-like sales growth in the UK