European Stocks Subdued as Focus Turns to US Jobs; UBS Jumps
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European equities edged lower on Thursday as investors held off from making big bets ahead of US jobs data, overshadowing the boost from a rally in UBS Group AG that was driven by the biggest-ever quarterly profit for a bank.
The Stoxx Europe 600 was down 0.2% by the close, capping its first monthly decline since May. It gained nearly 0.5% earlier in the day, when figures showed the Federal Reserve’s preferred measure of underlying inflation posted the smallest back-to-back increases since late 2020, encouraging a burst of consumer spending and feeding growing expectations that the economy can avert a recession.