(Reuters) – European shares were muted on Friday and were set to end an event-filled week marginally lower, which included crucial central bank decisions, especially from the U.S. Federal Reserve.
The pan-European STOXX 600 was flat at 554.89, as of 0722 GMT.
Technology stocks took a pause, with BE Semiconductor and ASML down about 0.9%, each, after rallying earlier in the week.
The Fed’s 25-basis-point interest rate cut earlier this week helped riskier assets broadly this week, while technology stocks in Europe also witnessed renewed interest following losses in the previous two months.
However, the STOXX index is still set for marginal weekly declines on looming worries around elevated sovereign debt levels regionally and the impact U.S. tariffs could have on corporate earnings in the months to come.
Following the Fed, Norway’s central bank also lowered rates by 25 bps, while the Bank of England left borrowing rates unchanged this week.
Among others, Stabilus lost 2.8% after the industrial and automotive supplier announced plans to cut 450 jobs worldwide, as part of a cost-cutting programme.
Kuehne+Nagel slid 5.3% after brokerage Deutsche Bank cut its rating on the Swiss logistics group to “Hold” from “Buy” earlier.
UK’s Close Brothers slid 6.7% after the lender said it would delay its preliminary 2025 results by a week.
(Reporting by Tristan Veyet in Gdansk and Johann M Cherian in Bengaluru, editing by Rashmi Aich)
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