Europe's benchmark STOXX 600 logged its third consecutive week of declines on Friday, hurt by underwhelming stimulus measures from China as well as concerns about tariffs under a Trump presidency hurting economic growth.
The pan-European STOXX 600 closed down 0.6%, with China-exposed sectors such as miners and luxury losing more than 3% each. Most major subsectors were in the red barring defensive sectors such as real estate and healthcare.
China unveiled a 10 trillion yuan ($1.40 trillion) debt package on Friday, disappointing investors who had speculated on a fiscal bazooka. Metal prices retreated in response, weighing on miners such as Rio Tinto and Glencore.
"The optimism seen on Wall Street has been entirely absent from the UK index, as heavyweight mining stocks shed ground after the National Policy Committee failed to unveil anything of note," said Chris Beauchamp, chief market analyst at IG.
Source: Reuters
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