European stocks closed lower on Friday, easing from record highs hit in the last session but still sharply higher for the week as markets continued to assess the chances of peace in Ukraine this year and the impact of potential tariffs from U.S. President Trump. The euro zone STOXX 50 fell 0.2% to close at 5,488 after hitting a record high for the first time in 25 years yesterday, while the pan-European STOXX 600 fell 0.3% to 552.
Trump announced plans for reciprocal tariffs on a country-by-country basis, which will come into effect as early as April. Healthcare and insurance companies led the declines, with Allianz, AXA and Munich Re down between 2.5% and 2.5%. Sanofi, meanwhile, fell 1.6% while Novartis, Novo Nordisk and AstraZeneca suffered similar declines outside the bloc. Hermes, meanwhile, pared early gains but closed 1% higher after reporting strong sales for the year, lifting shares of LVMH and Kering. Taking the full week into account, the STOXX 50 rose 3% and the STOXX 600 gained 1.5%.
Source: Trading Economics
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