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European equities finished lower on Friday, with the Euro Stoxx 50 down more than 1% and the broader Stoxx 600 off about 0.5%. Major national indices in Germany, Italy and Spain each fell by roughly 1%, while losses in France were more modest and the FTSE 100 was little changed.
Technology shares led the pullback, sliding nearly 3% as another round of disappointing earnings deepened the sector’s selloff. ASML dropped around 6%, while Infineon and STMicroelectronics declined more than 6% and 5%, respectively. Basic resources and banking stocks also lagged the market. NatWest tumbled 9% after its results failed to justify a guidance upgrade, and Crédit Agricole fell more than 2%.
On the upside, AstraZeneca advanced more than 7% after reporting stronger-than-expected results, offering some support to the broader market. Meanwhile, fresh Eurozone data confirmed a slowdown in economic growth in the third quarter.
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Despite Friday’s setback, the Euro Stoxx 50 still gained 1% over the week and the Stoxx 600 rose 2.1%. For October, they posted returns of -2.2% and +1.9%, respectively.
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