European stocks dip on tech losses, U.S. jobs caution

October 8, 2021

(Reuters) – European stocks slipped on Friday as declines in the technology sector more than offset gains in oil and auto shares, while investors remained cautious ahead of U.S. payrolls data.

The pan-European STOXX 600 index slipped 0.2%, with tech stocks down 0.9%, while oil & gas stocks jumped 1.1% as crude prices rose on doubts the U.S. government would release oil from its strategic reserves. [O/R]

Still, the benchmark was on course for weekly gains as relief over a temporary lifting of the U.S. debt ceiling countered worries that soaring energy costs would push inflation higher.

UK travel stocks including British-Airways owner ICAG, Whitbread and Ryanair gained between 0.5% and 2.9% after Britain was set to scrap tough COVID-19 quarantine requirements for 47 destinations.

However, UK-listed shares of travel company TUI Group plunged 12.3%.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty)

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