On Friday European stocks declined for a third day before reports on US jobs and German industrial output. European shares fell during early morning trading as fading hopes of further support from the Federal Reserve and the European Central Bank pushed investors to book more profits on five straight weeks of gains, the longest winning streak this year. US futures were little changed, while Asian shares fell.

PSA Peugeot Citroen retreated 6.6% after it said sales dropped in the first half. Banco Bilbao Vizcaya Argentaria SA slid 4.2% after HSBC Holdings Plc downgraded its shares. Air France-KLM gained 2.5% after reporting higher passenger traffic and an agreement with unions on cutting staff.

The Stoxx Europe 600 Index lost 0.3% to 256.26 at 10.22am in London. The equity benchmark is still headed for a 2 percent advance this week, its fifth straight week of gains, which would be its longest winning streak since January. The gauge has climbed 9.6%from this year’s low on 4 June amid speculation that central banks would ease monetary policy.

Spanish industrial production fell for the ninth month in May as the recession in the euro area’s fourth-largest economy worsened amid rising borrowing costs. Output at factories, refineries and mines adjusted for the number of working days fell 6.1% from a year earlier, after an 8.3% decline in April, the National Statistics Institute in Madrid said during the day.

Japanese stocks dropped a second day, with the Nikkei 225 Stock Average trimming a weekly gain, as rate cuts in Europe and China failed to boost investor confidence before a US jobs report during the day. The Nikkei 225 fell 0.7% to close at 9,020.75 in Tokyo, paring a fifth week of gains to 0.2%. The broader Topix Index slid 0.6%.