European shares subdued as miners fall on China COVID worries

European shares were largely muted on Friday on losses in miners, as copper prices pulled back on worries about China COVID-19 curbs, while investors remained cautious ahead of monthly U.S. jobs data. The continent-wide STOXX 600 index was down 0.2% by 0709 GMT, after climbing 3.6% in the last two sessions.

European shares were largely muted on Friday on losses in miners, as copper prices pulled back on worries about China's COVID-19 curbs, while investors remained cautious ahead of monthly U.S. jobs data.

The continent-wide STOXX 600 index was down 0.2% by 0709 GMT, after climbing 3.6% in the last two sessions. Europe's basic resources fell 1.5% to lead losses among sectors, a day after surging 5.4% on Chinese stimulus hopes.

Globally, the sentiment was jolted after former Japanese Prime Minister Shinzo Abe was shot while campaigning for a parliamentary election, driving up bids for the safe-haven yen. The U.S. non-farm payrolls report due at 1230 GMT will show jobs growth likely slowed in June and the unemployment rate unchanged at 3.6%, underscoring a tight labor market that could encourage the Federal Reserve to hike interest rates by another 75 basis points later this month.

Swedish Match AB rose 1.3% after a media report that the activist investment firm Elliott Investment Management is building a stake in tobacco and nicotine products makers.