LONDON (SHARECAST) - Stocks remain lower as US non-farm payrolls near.
The number of Americans out of work is expected to have risen to 9.7% in September from 9.6% the previous month. Payrolls are seen down a touch.
Renault tops the fallers in Paris after Citigroup cut its stance on the European auto sector to “underweight”. The broker talked of “near-term caution as incentive schemes expire and the macroeconomic environment remains uncertain.”
Credit Suisse was out of luck as Barclays downgraded the Swiss bank to “underweight” from “equal weight”.
The Dax is 7 lower at 6,268, the Cac-40 is down 16 at 3,754 and Zurich is off 35 at 6,339.
European economic data has also unsettled investors. German exports in August fell 0.4% from July, which saw a 1.6% fall. Imports rose 0.9% from July, when they fell 2.2%.
Company news is scant, though German chemical group Lanxess has got a leg-up from an upgrade to 'buy' from 'hold' at Citigroup. The US broker also raised its earnings expectations on improved growth and margin prospects.
