Bank and luxury company stocks led losses on Friday, leaving European stocks in the red for the week after more “hawkish,” or tough on inflation, signals from a number of major central banks in amid growing concerns about the economic impact of the Ômicron variant of the coronavirus.
The pan-European STOXX 600 index closed down 0.56% to 473.90 points after jumping on Thursday when the European Central Bank (ECB) slightly reduced emergency stimulus but promised to continue supporting the economy .
The Bank of England (BoE) unexpectedly raised interest rates on Thursday, a day after the Federal Reserve signaled plans to raise rates as early as 2022.
With markets still digesting the ECB’s decision, banks fell, with eurozone bond yields also declining.
The STOXX 600 lost 0.3% for the week and is now more than 3% below record highs recorded in November.
Amid fears over the Ômicron variant of the coronavirus, some European countries were preparing to impose more travel restrictions, among other measures, on Friday.
- In London, the Financial Times index rose 0.13%, to 7,269.92 points;
- In Frankfurt, the DAX index fell 0.67% to 15,531.69 points;
- In Paris, the CAC-40 index lost 1.12%, to 6,926.63 points;
- In Milan, the Ftse/Mib index had a devaluation of 0.64%, to 26,611.41 points;
- In Madrid, the Ibex-35 index dropped by 0.82%, to 8,311.60 points;
- In Lisbon, the PSI20 index devalued 0.14%, to 5,439.93 points.
Reference: CNN Brasil
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