European Stocks Fall on Friday
European equities ended lower on Friday, with the Euro Stoxx 50 falling more than 1% and the broader Stoxx 600 declining around 0.5%. Germany, Italy and Spain each lost approximately 1%, while losses in France were more limited and the FTSE 100 was broadly unchanged. Technology stocks led the decline, dropping nearly 3% as another round of disappointing earnings intensified the sector selloff. ASML fell around 6%, while Infineon and STMicroelectronics lost more than 6% and 5%, respectively. Basic Resources and banks also underperformed, with NatWest plunging 9% after its results failed to deliver a guidance upgrade, while Crédit Agricole dropped more than 2%. AstraZeneca provided some support, gaining over 7% on stronger-than-expected results. Meanwhile, Eurozone data showed economic growth slowing in Q3. Despite Friday’s losses, the Stoxx 50 gained 1% and the Stoxx 600 rose 2.1% over the week. For October, they recorded changes of -2.2% and +1.9%, respectively.
European equities ended lower on Friday, with the Euro Stoxx 50 falling more than 1% and the broader Stoxx 600 declining around 0.5%. Germany, Italy and Spain each lost approximately 1%, while losses in France were more limited and the FTSE 100 was broadly unchanged. Technology stocks led the decline, dropping nearly 3% as another round of disappointing earnings intensified the sector selloff. ASML fell around 6%, while Infineon and STMicroelectronics lost more than 6% and 5%, respectively.
Basic Resources and banks also underperformed, with NatWest plunging 9% after its results failed to deliver a guidance upgrade, while Crédit Agricole dropped more than 2%. AstraZeneca provided some support, gaining over 7% on stronger-than-expected results. Meanwhile, Eurozone data showed economic growth slowing in Q3. Despite Friday’s losses, the Stoxx 50 gained 1% and the Stoxx 600 rose 2.1% over the week.
For October, they recorded changes of -2.2% and +1.9%, respectively.