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June 3, 2021, 4:45 a.m. EDT

European stocks edge back from record high as key U.S. report looms

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By Steve Goldstein

European stocks edged back from record highs on Thursday with markets awaiting pivotal U.S. jobs data.

Up 13% this year, the Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +0.76% slipped 0.2%.

U.S. stock futures /zigman2/quotes/209948968/delayed ES00 -1.45% were slightly weaker. The S&P 500 /zigman2/quotes/210599714/realtime SPX +0.28% closed Wednesday with a slight 0.1% gain to the third-highest finish in history.

Ahead of the release of Friday’s jobs report, ADP will release its estimate of private-sector payrolls, and the Institute for Supply Management will report on the services purchasing managers index.

It also will be the first opportunity to react to the news the Federal Reserve is selling its corporate bond portfolio acquired during the crisis. A bipartisan infrastructure spending package is still a possibility after President Joe Biden and Republican senator Shelley Moore Capito agreed to hold another round of talks on Friday.

French construction materials company Saint-Gobain /zigman2/quotes/201813666/delayed FR:SGO +0.60% rose 4% after it forecast record operating income in the first half of the year.

B&M European Value Retail /zigman2/quotes/208742159/delayed UK:BME +1.76% fell 3% as the retailer said U.K. like-for-like sales in the first nine weeks of fiscal 2022 fell 1%, as it forecast a decline in margins for the year. In France, it said sales were “pleasing” since the lockdown ended on May 19. B&M more than doubled its profit in the year ending March 27 on 24% like-for-like sales growth in the U.K.

/zigman2/quotes/210599654/delayed
XX : STOXX
459.82
+3.46 +0.76%
Volume: 0.00
Jan. 25, 2022 3:05p
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/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 4,340.00
-63.75 -1.45%
Volume: 449,622
Jan. 25, 2022 8:10a
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/zigman2/quotes/210599714/realtime
US : S&P US
4,410.13
+12.19 +0.28%
Volume: 3.89B
Jan. 24, 2022 5:04p
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/zigman2/quotes/201813666/delayed
FR : France: Euronext Paris
58.31
+0.35 +0.60%
Volume: 775,434
Jan. 25, 2022 3:05p
P/E Ratio
14.27
Dividend Yield
2.28%
Market Cap
€30.07 billion
Rev. per Employee
€253,623
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/zigman2/quotes/208742159/delayed
UK : U.K.: London
555.40 p
+9.60 +1.76%
Volume: 543,906
Jan. 25, 2022 2:04p
P/E Ratio
12.90
Dividend Yield
7.74%
Market Cap
£5.46 billion
Rev. per Employee
£132,316
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