European Shares Dip Amid Caution Ahead of U.S. Labor Data

European stocks continued their downward trend for the fourth consecutive session on Thursday, as investors remained cautious, awaiting key economic data from the eurozone and tracking U.S. labor market figures to assess the Federal Reserve’s future interest rate decisions.

As of 0715 GMT, the pan-European STOXX 600 index dipped by 0.1%. Miners led the decline, down 0.8%, amid falling industrial metal prices driven by concerns over global demand, particularly in China. Conversely, real estate shares were the top performers, gaining 0.5%.

Germany’s DAX index saw a slight rise of 0.1%, boosted by stronger-than-expected industrial orders in July, which increased by 2.9%, defying analyst expectations of a 1.5% decline. The focus now turns to eurozone retail sales data at 0900 GMT and U.S. labor market statistics due at 1230 GMT, which may influence interest rate expectations.

Among individual stocks, Associated British Foods dropped 3.5% to a five-month low after warning that price reductions in its European sugar business would hurt performance next year. Meanwhile, Lanxess surged 3.4% after Morgan Stanley upgraded the chemical firm’s rating to “Overweight.”