European Stock Indices Record Significant Losses at End of Week Trading

European stock indices recorded significant losses at the end of trading today, Friday, according to the following:

• The European Stoxx 600 is down 0.2% at the close.
• The German DAX index records losses of 0.3% by the end of trading.
• The French CAC index was the least losing among European stocks, by 0.2% at the close.
• The Italian MIB Index and the Spanish IBEX Index posted losses of 0.3% each.
• The British FTSE 100 index leads the losses of European stocks, recording a decline of about 0.5% at the end.

It is noteworthy that the European stock indices had recorded a poor performance at the end of trading on Thursday, coinciding with the decline in shares of technology companies and consumer goods sensitive to interest rates, amid expectations that major central banks will raise interest rates again.

The British FTSE 100 index led the losses in European stock indices, with consumer goods companies such as Unilever and the export-dependent Reckitt Benckiser Group under pressure as the pound rose in light of expectations that the Bank of England will raise interest rates again.

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Morgan Stanley expects European stocks to fall by 10% during this period!