#binabcesqure European stocks pull back at the close.. but register weekly gains
European stocks dipped at the end of Friday's trading, pressured by uncertainty surrounding the sustainability of the ceasefire agreement between the U.S. and Iran, while the British government faces increasing political challenges with rising debt and a budget deficit.
The French index "CAC 40" led the daily declines, losing 46 points (a drop of 0.55%) to close at 8421 points, but it maintained a positive weekly performance with a growth rate of +0.84%.
The British index "FTSE 100" followed suit, dropping by 36 points (0.35%) to close at 10363 points, deepening its total weekly losses to 1%.
In Germany, the "DAX" index closed at 24985 points after losing 40 points (0.16%), however, it remained the biggest weekly winner with a jump of +1.42%.
On the flip side, the regional index "Stoxx Europe 600" saw relative stability; it only dipped by one point (0.24%) to settle at 635 points, ending its week with slight gains of +0.38%.
The Swiss Foreign Ministry announced the cancellation of a meeting between the U.S. and Iran that was set to take place yesterday to kick off the next phase of negotiations, with media reports indicating that this move came as a result of ongoing military clashes in Lebanon.