European Stocks Decline but Record Weekly Gains

European stocks closed lower on Friday, as rising Treasury bond yields continued to leave their toll on the market.

The pan-European STOXX 600 index finished the day lower by 0.82%, limiting its losses that reached 1% earlier in the session, and managed to gain around 1.1% for the week.

Travel and leisure stocks fell by about 4% for the day, while tech sector continued to fall and recorded their second consecutive weekly decline of 0.5%.

The French CAC40 index lost 0.82%, while the German DAX declined by 0.97%.

In the UK, the FTSE100 index settled lower by 0.31%.