Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese President Xi.
The two leaders had a call yesterday and agreed to resume trade negotiations, but the absence of concrete progress kept markets on edge. Meanwhile, traders were also awaiting the latest US jobs report. In Europe, the ECB cut interest rates as widely expected, but President Lagarde signaled that the rate-cutting cycle may have reached its end.
On the data front, exports and industrial production data for Germany disappointed. On the corporate front, shares of Adidas (-0.9%) and Puma (-1.8%) fell after Lululemon Athletica lowered its annual profit forecast. Airbus (-0.9%), Volkswagen (-0.7%), and BMW (-0.9%) were also among the worst performers. In contrast, RWE gained 0.9%, and Bayer rose 1%. For the week, the STOXX 50 added 0.7%, while the STOXX 600 gained 0.6%.
Source: Trading Economics
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