European Stocks Down, Set for Weekly Gain
European markets edged lower on Friday after a volatile start to 2025. The Stoxx 50 fell 0.4%, while the Stoxx 600 fell 0.1%, with most sectors in the red. Mining stocks led the declines, while financials posted modest gains. Investors weighed political uncertainties, including instability in France, Germany’s general election and potential tariffs under U.S. President-elect Donald Trump.
On the data front, Turkish inflation fell to 44.38% annually in December, slightly below estimates, while key economic data from Poland, Germany, Spain and the U.K. remained in focus. Despite the declines, the Stoxx 600 rose 0.6% for the week, marking its second straight weekly gain. Automakers struggled as some EV models lost eligibility for U.S. tax credits under tighter rules, while financials and energy outperformed. Airbus shares plunged after narrowly missing its 2024 delivery target, while GSK rose on news that China approved its drug Nucala for treating chronic rhinosinusitis.
Source: Trading Economics