European stocks mixed as Volkswagen jumps on 50,000-job turnaround plan

Sep 2, 2026 16:15 (20d ago)

European stocks were mixed before U.S. payrolls, with the STOXX 600 down 0.1% at 648.67 by 0710 GMT and later the STOXX 50 and STOXX 600 each reported 0.1% higher at the close.
Volkswagen gained between 5.3% and 6.3% across reported snapshots after its supervisory board approved a transformation and turnaround agreement involving unions, Lower Saxony and 50,000 job cuts.
Investors weighed expected ECB tightening, oil-driven inflation and Middle East risks, while Brent crude traded near $96 a barrel and headed for its steepest weekly gain since mid-July.

European equities were mixed on Friday, Sept. 4, as investors awaited the August U.S. nonfarm payrolls report and assessed inflation risks from higher oil prices and sovereign yields. The STOXX 600 fell 0.1% to 648.67 by 0710 GMT, while Germany’s DAX rose 0.1%, London’s FTSE 100 fell 0.1% and France’s CAC 40 declined 0.2%; a separate snapshot showed the DAX 40 up 0.3% at around 26,070. By the reported close, the STOXX 50 and STOXX 600 were each 0.1% higher, although they lost 1.6% and 0.9%, respectively, for the week. Volkswagen rose 6% in the earlier report, 6.3% in the DAX snapshot and 5.3% at the reported close after its supervisory board approved a transformation and turnaround agreement with unions and shareholder Lower Saxony involving 50,000 job cuts. The European autos index gained 1.1%, while Middle East tensions disrupted Strait of Hormuz transit and pushed Brent crude toward $96 a barrel.