Bloomberg News

European Stock Futures Drop After U.S. Jobs Report

April 10, 2012

European stock futures tumbled, indicating that equities in the region will extend last week’s decline, after U.S. employers added fewer jobs in March than forecast. Asian shares also retreated, while U.S. futures rose.

Rio Tinto Group and Vedanta Resources Plc (VED) may lead mining companies lower as copper fell to a one-month low in London. Spanish banks might be active after the government stepped up efforts to bring the country’s deficit under control.

Futures on the Euro Stoxx 50 Index expiring in June lost 1.5 percent to 2,290 at 7:03 a.m. in London, while FTSE 100 Index futures retreated 1 percent after European markets were closed yesterday for the Easter Monday holiday. The MSCI Asia Pacific Index slid 0.3 percent, while Standard & Poor’s 500 Index futures expiring in June gained 0.3 percent.

The jobs report “puts a sting in the tail following robust U.S. economic data,” said Nam Truong, a trader at Capital Spreads in London. “Most people expect some pullback after a strong rally in the first quarter of this year.”

To contact the reporter on this story: Sarah Jones in London at sjones35@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net


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