European shares head for weekly loss after mixed U.S. data
* Pan-European FTSEurofirst 300 index falls 2.5 pct
* U.S. data mixed, hit equities but FX little changed
* Next, Dixons down on target price cut by Exane (Updates with reaction to jobs data)
By Atul Prakash
LONDON, Sept 4 (Reuters) - European shares looked set to end the week lower after jobs data from the United States triggered selling pressure as investors try to gauge the timing of the next U.S. rate hike.
While there was an initially positive market reaction to the data, which showed the U.S. economy had created fewer jobs than expected last month, a fall in the unemployment rate to a 7-1/2-year low meant the release did not decisively quash expectations of an interest rate hike as early as this month.
"Sentiment is quite nervous ... I think more and more investors blame central banks for not acting in the current environment to bring stabilisation," said Ingo Speich, portfolio manager at Union Investment in Frankfurt.
"Currently there is no positive bottom-up or fundamental signal that is strong enough to keep markets up."
The pan-European FTSEurofirst 300 index was down 2.4 percent at 1,394.27 points at 1406 GMT, after rising 2.4 percent the previous day when the European Central Bank delivered a dovish message from its first meeting after weeks of market turmoil. Continuación...