European stocks headed for a losing week, with Friday’s session adding to a slide amid jitters over a hawkish U.S. Federal Reserve and disappointment after some big corporations produced poorly received quarterly results.
What are markets doing?
The Stoxx Europe 600 SXXP, -0.60% eased 0.4% to 365.57 after Thursday’s modest gain.
The pan-European gauge is showing a gain of 0.3% for the week. Germany’s DAX 30 DAX, -0.28% eased 0.2% to 11,504.04, while France’s CAC 40 PX1, -0.85% dropped 0.7% to 5,097.31. The U.K.’s FTSE 100 UKX, -0.89% dropped 0.6% to 7,095.15.
Italy’s FTSE MIB Italy index I945, -0.91% fell 0.9% to 19,259.16.
The euro EURUSD, -0.1760% fell to $1.1349 from $1.1365 late Thursday in New York,
The British pound GBPUSD, -0.1608% slid to $1.3025 from $1.3061.
What is driving the market?
Global equities took a hit from Thursday’s Federal Reserve outcome, which saw no change in key rates, but investors were rattled by a perceived hawkish tone by the central bank. The news kept investors from cheering upbeat U.K. growth data, with London stocks bogged down by worries about China growth.
Read: FTSE 100 under pressure as resource stocks, banks slide
Italy crept back as a worry for Europe, after the European Commission on Thursday warned that it was concerned about the country’s debt situation, and that there was “no future” for the country outside of the common currency.
Stock movers
Shares of Thyssenkrupp AG TKA, -5.05% tumbled nearly 10% after the steel-and-technology group issued its second profit warning since July.
Telecom Italia SpA TIT, -5.50% slid 6% after the Italian company reported a third-quarter loss late Thursday, owing to a write-down.
BBVA SA BBVA, -5.81% BBVA, -3.17% tumbled more than 5% after Spain’s banking giant fell after a proposal by Mexico’s parliament to cut banking fees.
Heavily weighed energy stocks fell alongside crude oil prices—U.S. crude fell into a bear market on Thursday. Royal Dutch Shell Group PLC RDS.A, -0.11% RDSA, -1.20% declined over 1%, while BP PLC BP., -2.21% BP, -0.85% dropped 2.2%.
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