European stocks fell this Friday (17), as signs of stress in the credit of regional banks in the United States left investors nervous and led them to seek safe assets.
The continental index STOXX 600 closed in remains 0.91%, but still posted a modest weekly gain of 0.4%.
Os European banks fell 2.5%, with Deutsche Bank, Barclays, Unicredit and BNP Paribas losing between 3.3% and 6.5%.
Shares of U.S. regional banks fell after two lenders disclosed loan fraud, raising concerns about credit quality after two recent U.S. auto bankruptcies left investors worried about the sector’s exposure.
Luxury sector stocks helped cushion losses, with ea adding nearly $20 billion in market value as investor enthusiasm for its AI-powered Ray-Ban Meta glasses gained momentum.
The luxury sector was also the best performer this week, driven by LVMH, which beat forecasts and reported its first quarterly sales increase this year.
In LONDON, the Financial Times index fell 0.86%, to 9,354.57 points.
In FRANKFURT, the DAX index fell 1.82%, to 23,830.99 points.
In PARIS, the CAC-40 index lost 0.18%, to 8,174.20 points.
In MILAN, the Ftse/Mib index fell by 1.45%, to 41,758.11 points.
In MADRID, the Ibex-35 index registered a drop of 0.29%, at 15,601.10 points.
In LISBON, the PSI20 index depreciated 0.90%, to 8,266.08 points.
