Jul. 12 at 9:55 AM
European stock markets were lower on Friday as losses in banks & healthcare stocks weighed at the end of a week blemished by U.S. President Trump's latest tariff announcements,, with the European Union awaiting a letter on levies from Trump. European banks were at the forefront of the selloff with a -1.8% fall. Norway's largest bank DNB had an -8.8% slide after reporting an earnings miss for Q2, hit by weaker than expected interest income & higher loan losses. Health care stocks which hold a weight of over +12% on the STOXX, also saw heavy losses on with Danish drugmaker
$NVO down -3.6%.
$CAC40 -0.92%, German
$DAX -0.82%, Italian FTSE -1.11%, Spain’s Ibex -0.94%, London
$FTSE -0.38% & European STOXX 600 -1.01% at 547.34, its biggest single-day decline in over 3-months. Despite Friday's losses, most European blue-chip bourses clocked weekly gains in excess of 1%. Automobiles & mining stocks were the top performing sectors in Europe this week & telecoms the worst.
