European equity markets traded mixed on Friday as investors awaited the August U.S. nonfarm payrolls report for further indications about the Federal Reserve’s monetary policy outlook.
Expectations for a U.S. interest rate increase eased after Federal Reserve Governor Christopher Waller indicated that he favours keeping rates unchanged at the central bank’s upcoming policy meeting.
The French CAC 40 and the U.K.’s FTSE 100 were both down 0.1%, while Germany’s DAX gained 0.2%.
German Factory Orders Rise 2.5% in July
European investors also assessed German factory orders, which increased by more than expected in July, supported by demand for ships, railway rolling stock and aircraft.
Factory orders rose 2.5% month on month, according to Destatis, compared with expectations for an increase of 0.3%. The June increase was revised to 3.7%.
On an annual basis, German factory orders increased 13.1% in July, accelerating from growth of 7.2% in the previous month.
Volkswagen Shares Rise Following Future Plan 2030 Update
Volkswagen (TG:VOW3) shares advanced after the German automaker announced plans to cut an additional 50,000 jobs as part of its Future Plan 2030 transformation programme.
The company also said it plans to invest a three-figure billion sum over the coming years as part of the programme.
Alstom Gains Following VIA Rail Canada Agreement
Alstom (EU:ALO) shares rose 1.6% after the French rail equipment manufacturer signed an agreement with VIA Rail Canada.
Under the agreement, Alstom will design, engineer, manufacture and support a new Long-Distance, Regional and Remote fleet for passenger services across Canada.
Investors remained focused on the forthcoming U.S. employment figures, which could influence expectations for the Federal Reserve’s next policy decision.
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