European shares fall as ArcelorMittal and Man Group slide

viernes 6 de mayo de 2016 09:19 GYT
 

* FTSEurofirst 300 down around 1 pct

* ArcelorMittal lower after it leaves guidance unchanged

* U.S. nonfarm payrolls increase less than forecast (ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets for site in development) Adds details, updates prices)

By Sudip Kar-Gupta

LONDON, May 6 (Reuters) - European shares fell on Friday, with steelmaker ArcelorMittal and hedge fund Man Group among the worst performers. Weak U.S. jobs data further weighed on markets.

ArcelorMittal fell 3.2 percent after the world's largest steelmaker kept its guidance unchanged. Man Group slumped 8.5 percent after Citigroup cut its rating on the stock to "sell" from "buy".

The pan-European FTSEurofirst 300 index dropped 1.2 percent as the stocks lost ground after disappointing U.S. jobs data.

The U.S. economy added 160,000 jobs last month, the fewest in seven months and well below the 202,000 forecast in a Reuters poll. The weakness cast doubts on whether the Federal Reserve would raise interest rates by the end of 2016.

The euro gained against the dollar, which weighed on European stocks, since a stronger euro makes European exports more expensive and competing imports cheaper.   Continuación...