FX.co ★ Stocks in Europe to End the Week Lower

European stocks traded lower on Friday, with the STOXX 50 down 0.4% and the STOXX 600 off 0.6%, leaving both benchmarks on course to finish the week in negative territory, with losses of nearly 3% and 2%, respectively. The pullback comes amid stalled negotiations between the US and Iran and the ongoing near-closure of the Strait of Hormuz, developments that have also driven oil prices higher this week. At the same time, investors continued to focus on the corporate earnings season. Aerospace and defense led the declines, while technology outperformed. Shares of Airbus and Safran each fell by almost 3%. By contrast, SAP surged nearly 7% after the company beat profit expectations, and Eni gained 0.3% following a report of higher output. Volvo also advanced 1.3% after posting an increase in truck demand.