Europe before the bell: Futures steady before jobs data
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EUROPE BEFORE THE BELL: FUTURES STEADY BEFORE JOBS DATA
European equity futures are holding steady on Friday after a three-day sell-off that has seen the STOXX 600 .STOXX and the Euro STOXX 50 .STOXX50E both shed almost 3%.
Before the bell, Euro STOXX 50 futures STXEc1 are eking out a 0.1% gain, but the index is still on track for its third straight weekly drop and its biggest weekly fall since the start of September.
That could all change, as markets face a pivotal U.S. labour market report on Friday, even though it is expected to show slower job growth due to disruptions from hurricanes and strikes in October.
It's the last major data point before U.S. citizens head to the polls in Tuesday's tight presidential election.
Attention is also on British markets after Wednesday's high-spending, high-borrowing, high-tax budget sent ripples through the UK bond market and the pound, although nothing like the shockwave seen in September 2022.
Britain's FTSE 100 .FTSE fell 0.6% on Thursday, in line with broader moves in European markets. FTSE futures .FFIc1 are flat on Friday.
In corporate news, Reckitt Benckiser RKT.L could be in focus after the company was cleared of liability in its latest preterm formula case.
(Samuel Indyk)
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