BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks closed broadly lower on Friday amid fresh concerns about valuations in the tech sector on reports OpenAI could delay its public market debut. Uncertainty about U.S.-Iran peace deal following a fresh attack on a cargo vessel in the Strait of Hormuz hurt as well.
The New York Times said OpenAI's advisers are pushing its chief executive, Sam Altman, to move slowly after SpaceX's (SPCX) stock has been volatile and as the start-up grapples with financial challenges.
The pan European Stoxx 600 settled 0.68% down. The UK's FTSE 100 ended lower by 0.21%, Germany's DAX dropped 1.29% and France's CAC 40 shed 0.55%. Switzerland's SMI finished with a loss 0.42%.
Among other markets in Europe, Austria, Denmark, Finland, Greece, Iceland, Ireland, Netherlands, Norway, Poland, Portugal, Russia, Spain and Sweden closed weak.
Belgium, Czech Republic and Türkiye ended higher.
In the UK market, Croda International ended nearly 5% down. Whitbread, Airtel Africa, Polar Capital Technology Trust, BP and Barclays lost 2%-3%.
Investec, Aberdeen Group, Rolls-Royce Holdings, IG Group Holdings, Persimmon, Spirax Group, HSBC Holdings, Babcock International, Melrose Industries, Standard Chartered, Glencore and Barratt Redrow also ended notably lower.
Endeavour Mining, Coca-Cola HBC, The Sage Group, Burberry Group, Reckitt Benckiser, Admiral Group, AstraZeneca, Pearson, Fresnillo, BT Group, Compass Group, Tritax Big Box REIT, Sainsbury (J), Entain and LondonMetric Property gained 1.3%-3%.
British American Tobacco moved up more than 1% after it announced plans to launch another share buyback program during the closed period ahead of its July 30 half-year results.
In the German market, Auto stocks were weak as investors assessed the potential implications of higher memory chip costs on the industry.
Porsche Automobil Holding and Volkswagen closed lower by 6.5% and 4%, respectively. Mercedes-Benz shed nearly 3% and BMW closed lower by 2.8%. Daimler Truck Holding drifted down 1.3%.
Zalando ended lower by 6.3% after Germany's financial regulator, BaFin, launched an investigation into the company's 2025 financial statements, alleging that a transaction related to the acquisitions of About You might have been omitted.
Siemens Energy closed 5.8% down and Infineon drifted down 4.5%. Deutsche Bank and RWE lost 2.7% and 2.5%, respectively.
Continental, Siemens, Heidelberg Materials, MTU Aero Engines, Deutsche Post and Dea Group also ended notably lower.
SAP, Adidas and Beiersdorf gained 2%-2.2%. Henkel, Scout24, Vonovia and Commerzbank posted moderate gains.
In the French market, STMicroelectronics, ArcelorMittal and Safran closed down by 3%-3.3%. Accor ended 2.7% down.
Stellantis, Legrand, BNP Paribas, Societe Generale, Airbus, Saint-Gobain, TotalEnergies and Schneider Electric shed 1.2%-2%.
Danone climbed more than 3%. Edenerd, Dassault Systemes, Sanofi and EssilorLuxottica gained 1.5%-2%. Teleperformance, Capgemini, Eurofins Scientific, Engie and Air Liquide also closed with notable gains.
In economic news, initial jobless claims in France increased to 15,500 in May 2026 from -9,000 in April 2026, data from DARES showed.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
