European Shares Tumble Amid Mixed Corporate Earnings and Trade Talks
European shares fell on Friday as investors grappled with varied corporate earnings and anticipated U.S.-EU trade developments ahead of President Trump's upcoming tariff deadline. The STOXX 600 index dipped 0.4%, driven by declines in financials and basic resources stocks, amid continued global trade negotiations and mixed company forecasts.
European shares took a downturn on Friday, reversing the previous session's gains. Investors reacted to a mix of corporate earnings reports while anticipating updates on EU-U.S. trade talks as President Trump's tariff deadline looms next week.
The pan-European STOXX 600 index fell 0.4% to 549.36 points by 0832 GMT, although it's still poised for minor weekly gains. The UK's FTSE 100 also dropped by 0.4%, pulling back from the all-time high it hit on Thursday. Most regional markets shared in the decline.
Amid a hectic week of trade discussions, investors expressed optimism over agreements with Japan, Indonesia, and the Philippines. However, talks with the EU continued without resolution. 'The elephant in the room is earnings,' said Roland Kaloyan of Societe Generale, as European financials and basic resources stocks dragged the index lower.
(With inputs from agencies.)
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