European shares started Friday in fretful mood as investors waited to see if Russian hardline leader Vladimir Putin would turn of the gas taps unless foreign buyers started paying up in roubles.
The pan-European Stoxx 600 index edged ahead by 0.23% in early deals with all regional bourses looking for direction.
Putin on Thursday threatened to cut off gas supplies unless paid in local currency from April 1. Most European states, including Germany, a major customer, dismissed the dictator’s demand as blackmail.
Europe’s biggest economy has already activated an emergency plan that could lead to rationing.
Crude oil prices fell overnight after the US announced the largest ever release from its strategic reserve and called on oil companies to increase drilling, as US President Joe Biden moved to control soaring petrol costs. West Texas Intermediate fell below $100.
Investors were also eyeing US non-farm payrolls, with forecasts of 470,000 added in March, compared with 678000 in February.
In equity news, French catering and food services group Sodexo fell 4.93% on narrowing its full-year revenue growth forecast, citing uncertainties due to Covid-19 and the war in Ukraine.
