European stocks fell on Friday, reversing gains from the previous day, as investors reviewed mixed corporate earnings and awaited updates on EU-US trade talks ahead of President Trump’s tariff deadline next week.<\/p>\n
The STOXX 600 index dropped 0.4% to 549.36 points but was still set for small weekly gains. The UK’s FTSE 100 also fell 0.4%, pulling back from its record high on Thursday, while most other European markets were also down.<\/p>\n
Investors celebrated trade deals with Japan, Indonesia, and the Philippines this week, but hopes for a US-EU agreement remain as talks continue. Financial stocks led the losses, falling 1.3%, while basic resources stocks dropped 0.6%, with Fresnillo down 2.3%.<\/p>\n
Among individual companies:<\/p>\n
Puma shares plunged 15.1% after cutting its full-year outlook and reporting weak results.<\/p>\n
JD Sports fell 1.5%.<\/p>\n
Valeo dropped nearly 9% after lowering its sales forecast.<\/p>\n
Traton, Volkswagen’s truck unit, fell 4.4% after cutting its full-year outlook.<\/p>\n
On the positive side:<\/p>\n
Carrefour rose 6% after strong half-year results.<\/p>\n
Volkswagen gained 2.7% after the CEO announced plans to speed up cost cuts, recovering from an earlier 2.4% drop due to a revised outlook.<\/p>\n
NatWest rose nearly 2% after reporting better-than-expected profits and announcing a \u00a3750 million share buyback.<\/p>\n
In economic news, German business morale improved in July but less than expected.<\/p>\n
On the FX front, the yen strengthened to 147.10 per dollar, heading for a 1% weekly gain, its best since mid-May. A Reuters poll suggests Japan’s central bank may raise rates by 25 basis points this year.<\/p>\n
The dollar index fell to 97.448, down 1% for the week, marking its weakest performance in a month. The euro held steady at $1.1754, close to its near four-year high of 1.183 earlier this month, and has risen 13.5% this year.<\/p>\n
The Australian dollar climbed to 0.6593, near an eight-month high, boosted by improved risk appetite after recent trade deals.<\/p>\n
Currency Power Balance<\/p>\n","protected":false},"excerpt":{"rendered":"European stocks fell on Friday, reversing gains from the previous day, as investors reviewed mixed corporate earnings and…\n","protected":false},"author":2,"featured_media":20927,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,63,99,171],"class_list":{"0":"post-20926","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-markets"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/20926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=20926"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/20926\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/20927"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=20926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=20926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=20926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}