BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks traded lower on Friday and headed for a weekly loss amid renewed concerns about France's finances, continued Houthi attacks in Saudi Arabia, and doubts over whether hyperscalers' massive AI investments will yield adequate returns.
German government bond yields dropped to nearly two-month lows as investors sought the safety of core European debt amid lingering civil unrest in France.
The euro hit a fresh 17-month low against the British pound after Eurozone PMIs highlighted a moderate slowdown.
Meanwhile, U.K. retail sales decreased 0.4 percent in September, reversing a rise of 0.7 percent in August as warm weather weighed on clothing and supermarket sales, official data showed. That exceeded economists' forecast of a 0.1 percent fall.
Separate survey data from market research group GfK showed that U.K. consumer confidence registered its sharpest fall in October since the onset of the pandemic in early 2020. The consumer sentiment index declined 11 points to -24 in October.
The pan-European STOXX 600 was down 0.4 percent at 635.47 after declining 1 percent on Thursday.
The German DAX, France's CAC 40 and the U.K.'s FTSE 100 all were down around 0.6 percent.
Signify shares soared 7 percent after the Dutch lighting company beat third-quarter core profit expectations.
Hexagon advanced 1.7 percent. The Swedish industrial technology group reported an unexpected rise in its quarterly operating profit, driven by increased net sales, lower expenses, and positive fair value change on equity investments.
Security services company Securitas plunged 5.6 percent after falling short of margin expectations in Q3.
Volvo Car nosedived 27 percent. After reporting a devasting third-quarter loss, the automaker said it would cut another 2,500 jobs, or around 6 percent of its workforce.
Home appliance manufacturer Electrolux added 4.7 percent after third-quarter core profit topped expectations.
French jet engine maker Safran slumped 6.8 percent on concerns about slowing aftermarket growth.
Catering and food services group Sodexo jumped 5.4 percent after reporting stronger-than-expected full-year revenue.
Italian energy company Eni rallied 4 percent. The company announced a special dividend and increased the size of its share buyback program after reporting solid third-quarter results.
Holcim shares gained 5 percent. The Swiss cement maker raised its full-year earnings forecast following stronger third-quarter results.
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