European Shares Inch Lower Ahead Of PMI Data

RTTNews | 232 days ago
European Shares Inch Lower Ahead Of PMI Data

(RTTNews) - European stocks traded slightly lower on Friday and were on track to snap a five-week winning streak due to geopolitical and trade tensions linked to Greenland.

The euro held ground against the dollar ahead of the purchasing managers' index figures from both Europe and the U.S. due later in the day.

The pan European Stoxx 600 was down 0.1 percent at 608.03 after surging 1 percent on Thursday.

The German DAX was marginally lower and France's CAC 40 slid 0.1 percent while the U.K.'s FTSE 100 was up 0.1 percent.

German chemical giant BASF declined 1.4 percent after flagging weaker earnings.

French lender BNP Paribas was marginally lower after reports it plans to eliminate about 1200 jobs by the end of 2027.

British defense contractor Babcock International fell 1.7 percent after announcing CEO succession.

Swiss composite materials specialist Gurit Holding soared 12 percent after 2025 sales beat guidance.

Sweden's Ericsson surged 9 percent. The telecom equipment maker beat quarterly earnings expectations and announced a SEK 15 billion share buyback.

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