European Stocks Close Lower for 2nd Session
European stocks closed firmly lower on Friday, extending the sharp losses from the previous session as markets considered greater risks to growth despite the spending boosts signaled by the Eurozone's largest economies.
The STOXX 50 lost 0.4% to close at 5,430 and the STOXX 600 fell 0.6% to close at 550. Uncertainty about growth in the continent remained in the spotlight after ECB Governing Council heads Lagarde and De Guindos warned of risks to the bloc's output yesterday. Investors also pared exposure to risk amid the potential of escalation in EU and US tariffs next week ahead.
Industrials led the losses in the session with Siemens and Schneider down more than 2% each. Also, DHL sank 2.4% after London's Heathrow Airport shut down for the day due to a fire in its electrical grid. Leisure airlines were also lower on the broader index. On the week, both indices close higher.
Source: Trading Economics