By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- After a four-day winning run, European
stock markets retreated on Thursday as investors digested corporate
earnings and waited for jobless claims data from the U.S.
The Stoxx Europe 600 index slipped 0.2% to 334.03, after closing
at the highest level in six years on Wednesday.
Posting one of the biggest losses in the pan-European benchmark,
shares of Premier Oil PLC dropped 4.3% after the oil exploration
and production company said output in 2013 was in the middle of its
guidance.
Shares of Associated British Foods PLC lost 3.9% after the food
and retail firm said its budget clothing chain Primark posted
strong sales around Christmas, but that its sugar business was
weaker than expected.
Royal Ahold NV gave up 3.6% after the Dutch supermarket firm
said sales declined by 4.2% in the fourth quarter due to foreign
exchange effects and a loss of market share in its two key
regions.
Swiss Re AG gave up 1.5% after J.P. Morgan Cazenove cut the
reinsurance firm to underweight from neutral.
The country-specific indexes were mostly lower, as investors
pulled back after solid gains earlier in the week ahead of the U.S.
jobless data. Germany's DAX 30 index moved 0.3% lower to 9,706.82,
after closing at an all-time high on Wednesday. France's CAC 40
index fell 0.3% to 4,318.37 and the U.K.'s FTSE 100 index was
slightly higher at 6,822.28.
Mining firms helped lift the London benchmark after Citigroup
moved its 12-month stance on the sector to bullish from neutral,
marking the first upbeat call in three years. Within the industry,
Citi said it prefers BHP Billiton PLC (BHP) , up 3.7%, Rio Tinto
PLC (RIO), 3.1% higher, and Glencore Xstrata PLC (GLCNF), up 3%.
Metals prices were, however, broadly lower.
The U.S. jobs numbers are out at 1:30 p.m. London time, or 8:30
a.m. Eastern Time.
"If the unemployment claims do show a weak number, we could
certainly see the odds go skyrocketing for further tapering coming
to the next Fed meeting," said Naeem Aslam, chief market analyst at
Ava Trade, in emailed comments.
U.S. stock futures pointed to a lower open on Wall Street. On
Wednesday, the S&P 500 index (SPX) closed at a record high
after the Federal Reserve said in its "Beige Book" that the economy
continues to grow at a moderate pace and the economic outlook is
positive, confirming recent economic indicators.
Asia markets closed mixed.
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