The European markets are likely to extend the previous session's sell-off on Friday, as investors eagerly look forward to the jobs report for clues on economic recovery. However, with the Dow futures now moving up by 19 points, some bargain hunting is likely. Crude oil prices also rose modestly in Asian trading today after tumbling by $3.84 to $73.14 per barrel yesterday.
The markets across Asia fell deep into the red on Friday, losing between 1.12% and 4.30%, with stocks cutting across various sectors suffering heavily on sustained selling pressure on concerns surrounding the pace of economic recovery and European sovereign debt.
In corporate news, precision instruments maker Mettler-Toledo International Inc. reported a higher fourth-quarter profit on Thursday, reflecting improved business conditions in some of its markets, particularly China.
Italian municipal utility A2A SpA said its Ebitda earnings fell 4.5% in 2009 to 1.02 billion euros, , but expects to grow its core earnings by an average 7.5% a year in the period 2010-2014.
Utility Enel SpA said its its preliminary 2009 Ebitda earnings rose 12% , boosted by its increased stake in Spanish power producer Endesa SA.
Dutch food group CSM NV agreed to buy U.S.-based bakery manufacturer Best Brands Corp for $510 million in cash to strengthen its ability to deliver organic growth in the North American market.
LVMH Moet Hennessy Louis Vuitton SA, the world's leading luxury products group said its net income dropped 13% to 1.76 billion euros in 2009 from 2.03 billion euros a year earlier.
The European markets fell for the second day on Thursday, as investors were worried over the fiscal woes in Greece, Portugal and Spain and U.S. jobless claims unexpectedly increased.
As expected, the European Central Bank on Thursday kept its key interest rate unchanged at a record low of 1% for the ninth consecutive month and the Bank of England also decided to retain the key interest rate at a historic low of 0.5%, and paused its £200 billion bond-purchase plan.
The FTSEurofrist 300 index of pan-European blue chips closed 2.75% lower, while the narrower DJ Stoxx 50 index fell 2.83%. Around Europe, the U.K.'s FTSE 100 index fell 2.17%, France's CAC 40 index dropped 2.75% and Germany's DAX index slipped 2.45% .
On Wall Street, stocks declined sharply on Thursday, as concerns over continued high levels of jobless claims and spreading European credit issues weighed on the markets. With the pullback, all the major averages finished firmly in negative territory, setting three-month closing lows ahead of Friday's landmark employment report. The Dow ended lower by as much as 2.6%, the Nasdaq declined by 3% and the S&P 500 drifted down 3.1%.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.