European shares edge lower ahead of US jobs data; Volkswagen jumps

OHB SE

04/09/2026 08:19

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Sept 4 (Reuters) - European shares ticked lower on Friday ahead of closely watched U.S. jobs data, while Volkswagen's shares rallied after the automaker announced a major transformation plan that includes 50,000 job cuts.
The pan-European STOXX 600 .STOXX dipped 0.1% to 648.67 points by 0710 GMT. Germany's DAX .GDAXI was up 0.1%, London's FTSE .FTSE dipped 0.1% and France's CAC 40 .FCHI fell 0.2%.
Shares of Volkswagen VOWG.DE jumped 6% after the supervisory board of Europe's largest automaker struck a turnaround agreement that averted an escalation with unions and shareholder Lower Saxony. The broader European autos index .SXAP jumped 1.1%.
Investors awaited the August U.S. nonfarm payrolls report for fresh clues on the Federal Reserve's policy path.
The latest escalation in the Middle East conflict has pushed oil prices higher, raising fears of renewed inflationary pressures and triggering a selloff across global equity and bond markets in recent weeks.
Oil prices rose on Friday, heading for their steepest weekly gain since mid-July, with Brent crude trading LCOc1 at around $96 per barrel. O/R
Economically sensitive chemical .SX4P and banking .SXPP sectors fell almost 1% each, weighing on the main European stocks index. 

 (Reporting by Sudeshna Ghoshal in Bengaluru; Editing by Subhranshu Sahu)
 ((Sudeshna.Ghoshal@thomsonreuters.com;))