AIRLINK 173.15 Increased By ▲ 15.74 (10%)
BOP 10.65 Increased By ▲ 0.28 (2.7%)
CNERGY 8.52 Increased By ▲ 0.20 (2.4%)
CPHL 97.46 Increased By ▲ 4.57 (4.92%)
FCCL 47.25 Increased By ▲ 0.52 (1.11%)
FFL 15.42 Increased By ▲ 0.54 (3.63%)
FLYNG 28.13 Increased By ▲ 1.15 (4.26%)
HUBC 138.91 Increased By ▲ 4.90 (3.66%)
HUMNL 12.81 Increased By ▲ 0.29 (2.32%)
KEL 4.54 Increased By ▲ 0.33 (7.84%)
KOSM 5.55 Increased By ▲ 0.16 (2.97%)
MLCF 62.26 Increased By ▲ 1.38 (2.27%)
OGDC 214.75 Increased By ▲ 6.23 (2.99%)
PACE 5.55 Increased By ▲ 0.15 (2.78%)
PAEL 44.86 Increased By ▲ 4.08 (10%)
PIAHCLA 18.70 Decreased By ▼ -0.10 (-0.53%)
PIBTL 10.74 Increased By ▲ 0.76 (7.62%)
POWER 12.26 Increased By ▲ 0.30 (2.51%)
PPL 173.87 Increased By ▲ 5.10 (3.02%)
PRL 36.22 Increased By ▲ 1.19 (3.4%)
PTC 23.56 Increased By ▲ 0.57 (2.48%)
SEARL 95.31 Increased By ▲ 2.21 (2.37%)
SSGC 39.13 Increased By ▲ 3.56 (10.01%)
SYM 14.02 Increased By ▲ 0.36 (2.64%)
TELE 7.23 Increased By ▲ 0.28 (4.03%)
TPLP 10.29 Increased By ▲ 0.29 (2.9%)
TRG 64.68 Increased By ▲ 4.01 (6.61%)
WAVESAPP 10.04 Increased By ▲ 0.34 (3.51%)
WTL 1.33 Increased By ▲ 0.03 (2.31%)
YOUW 3.70 Increased By ▲ 0.05 (1.37%)
BR100 12,492 Increased By 252.4 (2.06%)
BR30 37,694 Increased By 1300.9 (3.57%)
KSE100 116,189 Increased By 2036.1 (1.78%)
KSE30 35,750 Increased By 549.8 (1.56%)

FRANKFURT: European stocks slipped on Friday, taking the main benchmark to its first weekly decline in three, as investors sought clarity on the pace of monetary easing in the euro zone next year amid concerns over slowing economic growth and a potential trade war.

The pan-European STOXX 600 index lost 0.5% to hit a more-than one-week low and ended the week about 0.8% lower.

Stock markets have been choppy this week as investors digested stimulus updates from China, inflation data from the US and euro zone as well as the European Central Bank’s fourth rate cut of the year on Thursday.

Four European Central Bank policymakers backed further interest rate cuts on Friday provided that inflation settles at the ECB’s 2% goal as expected. Traders are pricing in rate cuts of 112 basis points by the end of next year.

“The bar for a 50bp cut at the next meeting in January feels high, but a larger cut or cuts beyond January cannot be ruled out,” Deutsche Bank analysts said.

“A group on the Council is already proposing 50, the policy stance is still restrictive, tariffs have not been factored into the ECB forecasts yet and the new language allows for the possibility of rates having to fall below neutral.” France’s CAC 40 slipped 0.1% as investors assessed whether a new government led by Francois Bayrou can tackle France’s fiscal problems.

His immediate priority will be passing a special law to roll over the 2024 budget, with a nastier battle over the belt-tightening 2025 legislation looming early next year.

Healthcare stocks were among top sectoral decliners, with Novo Nordisk’s 3.9% drop, weighing the most on STOXX 600. Britons paying privately for obesity drugs are increasingly choosing Eli Lilly’s Mounjaro over Novo Nordisk’s Wegovy, Reuters reported based on views from online pharmacies.

On the flip side, insurers rose 1.2% and led sectoral gains as Munich Re climbed 5.5% after saying that it is targeting 6 billion euros ($6.27 billion) in net profit for next year, with its reinsurance business alone anticipated to make up 5.1 billion euros.

Comments

Comments are closed.