European stocks snap three-day rally

By FXStreet FXStreet (Mumbai) – The stock markets across Europe weakened on Friday, triggering a drop in the Euro Stoxx 600 index after three-day rally.

At the time of writing, the pan-European Stoxx 600 index was down 0.30% at 363.83. The Stoxx 50 index was down almost 0.90%. Among the regional indices, Germany’s DAX was down 0.70%, while France’s CAC was down 0.66%. London’s FTSE was down 0.36%.

Germany’s Telefonica Deutscheland shares fell 4.14% along with a 3% drop in the Swiss Logitech International. Telefonica Deutscheland shares are having a worst day in 3 months on the Morgan Stanley downgrade.

Meanwhile, the UK’s Miners and Energy shares have ticked higher. Shares in Anglo American and BHP Billiton are up 5% and 2% respectively.

The stock markets in Europe took cues from the weak closing on the Wall Street on Thursday and the drop in the Asian equities today.
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Source:: FX Street