From Investing.com:

European shares saw a drop amid a broader market decline, marking their first weekly loss in eight weeks. The pan-European STOXX 600 lost 0.8% by 0935 GMT, with technology and retail sectors leading declines for the day, and the food and beverages index shedding 1.1%. The decline was due to investors awaiting euro-zone inflation prints and U.S. payrolls data that could shape monetary policy expectations.

French spirits companies Remy Cointreau and Pernod Ricard saw a drop of 10.1% and 5.5% respectively after China launched an anti-dumping investigation on brandy imported from the European Union. This influenced a 1% drop in France’s benchmark CAC-40 index. On the data front, Euro-zone consumer and producer inflation reports and U.S. non-farm payrolls data will be crucial for investors in assessing when the European Central Bank and the Federal Reserve can start cutting rates this year.

Market expectations of a pause and a cut in ECB rates in March are somewhat resilient. Fresh data showed a higher-than-expected fall in German November retail sales, strengthening the case for the ECB to keep rates higher for longer. Among decliners, Endeavour Mining lost 12.4% after removing its CEO, while Signify shed 1.6% after Barclays initiated coverage of the world’s largest light-maker’s stock with an “Underweight” rating. On the flip side, Syensqo gained 3% after JP Morgan initiated coverage of the chemicals-focused company’s stock with an “Overweight” rating, and German biotech firm Evotec bounced back 2.3% after Thursday’s 18% slump.



Read more: European shares eye first weekly loss in eight; focus on data for rate clues By Reuters