European shares drop after disappointing US jobs data

viernes 3 de junio de 2016 12:43 GYT

* Pan-European index ends down 0.9 pct

* U.S. jobs data disappoints

* Accor up on report Jin Jiang plans to hike stake

* Autos, banks lead sectoral fallers (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, closing prices)

By Atul Prakash and Danilo Masoni

LONDON/MILAN, June 3 (Reuters) - European shares fell on Friday after much weaker U.S. jobs data than expected, while Accor soared on reported plans by a Chinese rival to raise its stake in the hotel group.

The U.S. economy created the fewest number of jobs in more than five years in May, suggesting weakness in the labour market and dashing expectations of a interest rate hike this month.

The FTSEurofirst 300 fell 0.9 percent to its lowest point in one week and a half. The index fell 2.4 percent for the week after gaining for the previous three weeks running.

"The US non-farm payroll data was crazy and completely unbelievable and this is the last set of important data before the Fed meeting," said Naeem Aslam, chief market analyst at Think Forex.   Continuación...