Europe close: US data drags on stocks

(Sharecast News) - European shares fell back near the end of the trading session, albeit after a week that saw the likes of the Dax, Euro Stoxx 50 and Stoxx 600 notch up fresh record highs.

Dragging on sentiment was US data showing a large one percentage point jump in inflation expectations during to the month of February to reach 4.3%.

The pan-regional Stoxx 600 index was down 0.38% at 542.75, having hit a new high of 545.60 earlier in the session.

Germany's Dax meanwhile slipped 0.53% to 21,787-0 and the Cac-40 by 0.43% to 7,973.03.

January US jobs data showed a 143,000 gain in non-farm payrolls for the month of January (consensus: 170,0000).

But readings for the prior two months were revised up by a combined 100,000 and hourly wage growth sped up to 0.5% month-on-month (consensus: 0.3%).

On the economics front, German industrial production slumped in December, official data showed on Friday, as Europe's biggest economy ended 2024 on the back foot.

According to provisional data from the Federal Statistical Office production slid by a surprise 2.4%, to the lowest level since the May 2020.

In equity news, shares in Iveco Group surged 22% as the Italian truck maker said it was mulling a demerger of its defence unit and forecast a moderate increase in annual operating profit.

Banco Sabadell dipped even as Spain's fourth-largest lender posted better-than-expected quarterly profit.

Shares in Porsche hit the skids as the luxury German car maker warned the costs of new models would hit margins.

Danske Bank rose 8% after the Danish lender posted record annual profits and said it would launch a new share buyback programme worth 5bn Danish crowns.