European markets close lower, recording fourth consecutive weekly decline; Bavarian Nordic sinks 17%
European markets closed lower Friday after a choppy session, as investors assessed fresh economic data and the future path for interest rate cuts following hawkish comments from U.S. Federal Reserve Chair Jerome Powell.
The pan-European Stoxx 600 provisionally closed 0.76% lower, recording its fourth consecutive weekly decline according to LSEG data. Media stocks slumped 3% while mining stocks gained 1.3%.
Shares of Bavarian Nordic plunged to the bottom of the Stoxx 600, ending the day down over 17%, after it reported an annual dip in third-quarter revenue amid volatile demand for its mpox vaccine.
It comes amid wider declines for health care stocks, which shed 3.01%, as investors weighed President-election Donald Trump’s nomination of Robert F. Kennedy Jr. to lead the Department of Health and Human Services.
On Friday, investors digested fresh U.K. GDP data for insight into the state of the British economy — the first reading since the Labour government’s October budget announcement.
Source : CNBC