European Shares Fall On Tariff Worries; Travel Stocks Drag As Heathrow Airport Closes
(RTTNews) - European stocks traded lower on Friday as investors fretted about increasing global economic uncertainties resulting from geopolitical tensions and U.S. President Donald Trump's trade tariffs.
The pan European STOXX 600 was down 0.9 percent at 548.13 after falling 0.4 percent to snap a four-day winning streak on Thursday.
The German DAX shed 0.9 percent, France's CAC 40 declined 0.8 percent and the U.K.'s FTSE 100 was down half a percent.
German telecommunications firm Freenet dropped 1 percent despite an announcement that it will launch a share buyback program in the 2025 financial year.
Douglas AG, a perfume and cosmetics retailer, plummeted 22 percent after lowering its FY2024/25 guidance due to a decline in consumer sentiment.
Steel group Salzgitter fell more than 2 percent after delivering a mixed financial performance in 2024.
Ferrexpo slumped 6 percent on liquidity worries. The iron ore pellet producer said Ukrainian tax authorities had suspended its value-added tax refund worth 512.9 million hryvnias ($12.36 million).
Travel stocks faced selling pressure after a significant power outage closed Britain's Heathrow Airport for the day. Lufthansa fell 2.3 percent, IAG lost 3 percent and Air France KLM gave up 3.1 percent.
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