European stocks fell on Friday and were on track for their biggest weekly loss in three months, as growing concerns about a broader conflict in the Middle East, rising government bond yields and disappointing corporate earnings reports pushed investors off risk.<\/p>\n\n\n\n
By 7:06 GMT, the European STOXX 600 index fell 0.9 percent to its lowest levels in seven months, tracking Wall Street indices, which closed lower overnight.<\/p>\n\n\n\n
The index fell three percent during the week, and the turmoil in the Middle East may increase risk aversion, a trend driven by expectations that interest rates will remain high for a long period.<\/p>\n\n\n\n
L’Oreal announced a rapid rise in third-quarter sales, supported by growth in Europe, but its results did not meet expectations of a strong recovery in China. The French cosmetics company’s shares fell about three percent.<\/p>\n\n\n\n
Shares of Swedish garden equipment manufacturer Husqvarna fell 6.6 percent after third-quarter revenues fell short of expectations.<\/p>\n\n\n\n
The decline in the two stocks led to a decline in the European household goods index by 1.2 percent, while interest rate-sensitive technology stocks topped the losses on the index, falling by 1.5 percent.<\/p>\n\n\n\n
On the other hand, Sika shares rose 2 percent after the chemical company announced a 5.6 percent increase in sales for the first nine months of 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"
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