European Markets Stumble Despite Central Bank Interventions

European shares hovered near their opening levels on Friday, poised to conclude a dynamic week with a slight downturn, largely influenced by pivotal central bank decisions, notably from the U.S. Federal Reserve.

The pan-European STOXX 600 index remained steady at 554.89 points as of early trading, while technology stocks such as BE Semiconductor and ASML saw slight pullbacks of 0.9% after earlier gains.

The Federal Reserve's quarter-percentage-point rate cut did boost riskier assets, including European tech stocks, but the index faces weekly declines due to concerns about elevated sovereign debt and potential U.S. tariffs affecting corporate profits. Additional central bank decisions included Norway's rate cut and the Bank of England maintaining its current rates, with stock fluctuations such as Stabilus's job cuts and Kuehne+Nagel's downgraded ratings adding to the market uncertainty.

(With inputs from agencies.)