European Stocks Erase Weekly Gains at Friday’s Close

European stocks closed lower on Friday, on the back of economic data that showed business activity slowing down in the Eurozone amid renewed lockdown and preventive measures against the spread of the Coronavirus pandemic.

The pan-European STOXX 600 index lost 0.66% to give up almost all of its weekly gains and end the week nearly unchanged.

The French index CAC40 fell by 0.56%, while the German DAX closed lower by 0.24%.

Similarly, the UK’s FTSE100 declined by 0.30%.