On Friday European stocks dropped as investors awaited today’s American payrolls report and elections in France, Greece, Italy and Germany this weekend. Asian shares retreated while U.S. index futures were little changed.

Wacker Chemie AG, the world’s second-biggest maker of solar-grade silicon, slumped 5.6 percent after net income dropped. Royal DSM NA, the largest maker of vitamins, declined 2.3 percent after Bank of America Corp. downgraded the shares.

The Stoxx Europe 600 Index retreated 0.8 percent to 255.41 at 11:02 a.m. in London. The gauge has lost 1.5 percent this week, trimming its 2012 advance to 4.4 percent, as Spain entered a recession and reports on U.S. business activity and services- industry growth trailed forecasts.

Four elections this weekend have the potential to reshape the European political map and show how the response to the financial crisis remains hostage to the whims of voters on both sides of the region’s economic divide.

Recession-weary Greeks will pick a new government and polls show the French will probably elect the first Socialist president since 1995. Local elections will test Italy’s political pulse, and voters in a northern German state may deal a symbolic blow to Chancellor Angela Merkel’s coalition.

Euro-region services and manufacturing output contracted more than initially estimated in April, adding to signs the economy is struggling to regain strength. A composite index based on a survey of purchasing managers in both industries dropped to 46.7 from 49.1 in March, London-based Markit Economics said today. That’s less than an estimate of 47.4 published on April 23. Readings below 50 indicates contraction.

Asian stocks fell for a second day, with a regional benchmark index heading for its biggest drop in two weeks, as Australia’s central bank cut its economic growth forecast and U.S. service industries rose less than forecast, sparking concern the global recovery may be faltering.