European Stocks Edge Lower

2026-01-23 17:12 By Andre Joaquim 1 min. read

European stocks closed slightly lower on Friday, trimming the sharp gains from the previous session with losses from heavyweight banks and consumer cyclicals, as markets continued to assess how the European growth outlook will impact corporate giants.

The Eurozone's STOXX 50 fell 0.3% to close at 5,940 and the STOXX 600 dropped 0.2% to 607.

US President Trump has suspended the tariff threats against European countries that opposed the US acquisition of Greenland, adding little detail over any agreements for the sudden policy change.

In turn, steady growth in the Eurozone's private sector according to PMI data maintained the outlook of unchanged rates by the European Central Bank.

Banks led the losses with Santander, ING, and Nordea losing more than 1.5%.

On the other hand, Rheinmetall and Safran closed sharply higher to lead the rebound for defense-exposed companies, while SAP jumped 4.3% ahead of its earnings results next week.



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