FTSE down 0.25%; DAX down 0.50%; CAC 40 down 0.15% (Il Sole 24 Ore Radiocor) - Milan, 06 Sep - European shares were lower at mid-session, dropping for a fourth straight session as concerns over a global economic slowdown continued to weigh on investor sentiment.

The Stoxx 600 index was down 0.32%, extending the week's selloff amid weak global markets.

The benchmark index, which closed last week at a record high, was down more than 2.5% so far this week in its worst performance since the early August sell-off.

At 1100 GMT the London FTSE 100 was was down 0.25% at 8,220 points, the Frankfurt DAX was down 0.50% at 18,503 points, the Paris CAC 40 was down 0.15% at 7,421 points, while in Milan the FTSE MIB was down 0.28% at 33,589 points, and in Madrid the IBEX 35 was down 0.28% at 11,241 points.

Investors braced for the closely watched US jobs report due later today, amid growing expectations that the Federal Reserve may opt for significant rate cuts following some soft jobs and manufacturing data. Currently, markets are pricing in a 41% probability of a 50 basis point rate cut at the Fed's September 17-18 meeting, up from 38% the previous day, according to the CME FedWatch tool. Traders are also anticipating a total of 110 basis points in rate cuts by year-end, with three Fed meetings remaining.

Back in the region, data showed that in the second quarter of 2024 seasonally adjusted GDP in the eurozone increased by 0.2% compared to the previous quarter and was up 0.6% compared to the year earlier, data from European Union statistical office Eurostat showed. The data compares to a flash estimate released in August indicating that GDP in the quarter rose by 0.3% quarter on quarter and by 0.6% compared to the year earlier.

AAA-Ver

(RADIOCOR) 06-09-24 13:30:38 (0342) 5 NNNN