(Reuters) – European shares were little changed on Friday, as investors refrained from placing major bets ahead of crucial U.S. jobs data, with persistent trade tensions adding to the uncertainty.
The pan-European STOXX 600 held its ground at 551.9 points, as of 0709 GMT, though the index remained on track for a second consecutive weekly gain, if momentum holds.
A monthly reading of U.S. non-farm payrolls will set the tone for the day, and help investors gauge how the Federal Reserve could navigate this uncertain trade environment.
U.S. President Donald Trump doubled tariffs on steel and aluminum imports earlier this week, escalating trade tensions.
Following this, the Trump administration requested countries to submit their best offers by Wednesday, but markets have yet to see any concrete outcomes.
The ECB’s anticipated interest rate cut on Thursday was largely overshadowed by President Christine Lagarde’s signals that the central bank is approaching the end of its easing cycle, prompting investors to scale back expectations for further cuts.
Shares of sportswear retailers Adidas and Puma slipped nearly 1% and 1.5%, respectively, after U.S. peer Lululemon Athletica cut its annual profit forecast.
(Reporting by Purvi Agarwal in Bengaluru; Editing by Sherry Jacob-Phillips)
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