European stocks drop at open

LONDON: Europe’s main stock markets lost ground in opening deals on Friday, as cautious investors awaited key US payrolls data.

In initial deals, London’s benchmark FTSE 100 index of top bluechip companies slid 0.6 percent to 7,675.88 points.

In the eurozone, the Paris CAC 40 shed 0.8 percent to 7,392.07 points and Frankfurt’s DAX index retreated 0.7 percent to 16,501.31.

Asian stocks diverged Friday after news of a bigger-than-expected rise in US private-sector jobs poured cold water on hopes for a Federal Reserve interest rate cut in the next few months.

European stocks advance at open

Attention now turns to the release later Friday of the closely watched non-farm payrolls report, which could play a major role in Fed decision-making.