European stocks declined for the fifth consecutive session on Friday as investors exercised caution ahead of the crucial U.S. jobs data, the final labour market report before the Federal Reserve’s monetary policy decision on Sept. 18, 2024.

By 0711 GMT, the pan-European STOXX 600 index had fallen by 0.4%. It has dropped by 3% this week, signalling an end to its four-week winning streak.

Germany’s DAX index was down 0.5% following data that revealed a 2.4% decline in the country’s industrial production in July, compared with analysts’ expectations of a 0.3% drop. Energy stocks were the primary contributors to the market decline, decreasing by 0.8% as oil prices remained close to 14-month lows.

Attention is now focused on the U.S. non-farm payroll data, scheduled to be released at 1230 GMT. The American economy is expected to add 160,000 jobs in August, compared with 114,000 the previous month. The unemployment rate is expected to decrease to 4.2% from 4.3%.

Revised GDP data for the eurozone’s second quarter will be released at 0900 GMT. Regarding specific stocks, Airbus saw a 1% decline after Europe’s air safety regulator ordered inspections on engines of its A350-1000 jets following an engine fire on a Cathay Pacific flight earlier this week.

Additionally, France’s Elis SA declined by 10.5% following a report that the workplace supplies provider made an acquisition offer to Vestis, Aramark’s former uniform rentals business.

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