Europe down ahead of US jobs data

On Friday a lull settled over European stocks before key jobs data in the U.S., where announcements of exceptions to import tariffs and surprise talks with North Korea have traders weighing the outlook for a range of assets. The dollar was steady and Treasuries declined along with euro-area bonds.

The Stoxx Europe 600 Index nudged higher changed along with U.S. equity-index futures, capping a week in which shares globally were roiled by President Donald Trump rolling out his protectionist trade agenda. Asian stocks rose earlier on news of an agreement for an unprecedented summit between the leaders of the U.S. and North Korea. Gold retreated and bund yields rose, while the yen fell. Crude oil advanced, but still headed for a second week of declines as U.S. shale output climbed.

The announcement that Trump has accepted an invitation to meet North Korean leader Kim Jong Un fed risk-on sentiment in Asia as it helped ease geopolitical concerns tied to the nucleararmed dictatorship. The summit news overshadowed a warning from China that it will take “strong” measures to counter U.S. trade tariffs. Investors will now look to monthly U.S. employment data for the next signal on the direction of asset markets as the Fed prepares to review interest rates later this month.

The Stoxx Europe 600 Index climbed 0.1 percent as of 11:26 a.m. London time. Futures on the S&P 500 Index gained less than 0.05 percent. The U.K.’s FTSE 100 Index advanced 0.1 percent. Germany’s DAX Index dipped 0.3 percent, the first retreat in a week. The MSCI Asia Pacific Index rose 0.3 percent. Japan’s Topix index added 0.3 percent.

West Texas Intermediate crude climbed 0.7 percent to $60.54 a barrel. Gold declined 0.2 percent to $1,319.93 an ounce, the weakest in more than a week. LME copper advanced 0.2 percent to $6,845.50 per metric ton.