European Stocks Lower to End the Week
European stocks edged lower on Friday, with the STOXX 50 and STOXX 600 each falling nearly 0.1%, as investors weighed rising oil prices amid escalating Middle East tensions against fresh corporate earnings updates. Meanwhile, flash PMI data showed an unexpected contraction in French private-sector activity. SAAB shares rose 1.5% after the defence company reported better-than-expected earnings and revenue, supported by a deal to supply Gripen fighter jets to Ukraine. In contrast, Volvo Cars plunged nearly 25% following a sharp decline in sales in China. For the week, the EURO STOXX 50 lost around 1.9%, while the STOXX Europe 600 fell approximately 1%.
European stocks edged lower on Friday, with the STOXX 50 and STOXX 600 each falling nearly 0.1%, as investors weighed rising oil prices amid escalating Middle East tensions against fresh corporate earnings updates. Meanwhile, flash PMI data showed an unexpected contraction in French private-sector activity. SAAB shares rose 1.5% after the defence company reported better-than-expected earnings and revenue, supported by a deal to supply Gripen fighter jets to Ukraine. In contrast, Volvo Cars plunged nearly 25% following a sharp decline in sales in China.
For the week, the EURO STOXX 50 lost around 1.9%, while the STOXX Europe 600 fell approximately 1%.