European shares fall sharply ahead of U.S. payrolls report
* Pan-European FTSEurofirst 300 index falls 2 pct
* Focus on U.S. non-farm payrolls data at 1230 GMT
* Next, Dixons down on target price cut by Exane (Adds detail, fresh prices)
By Atul Prakash
LONDON, Sept 4 (Reuters) - European shares retreated on Friday after strong gains in the previous session, with investors focusing on a U.S. jobs report for hints about the timing of an expected interest rate rise in the United States.
Economists expect the U.S. economy to have generated 220,000 new non-farm jobs last month, continuing the robust employment creation of the past five years. The jobs report is due at 1230 GMT.
"Markets are worried about a too strong U.S. job report which could spark the Fed into hiking rates in September," said Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets.
"The Fed uncertainty, together with the worries about China, will keep markets volatile over the next couple of weeks and potentially until the end of October."
Energy shares were among the top sectoral decliners, with the STOXX Europe 600 Oil and Gas index falling 2.5 percent, tracking a sharp decline in crude oil prices. Continuación...