European stocks retreat led by Stoxx Europe 600 index

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European stocks retreat led by Stoxx Europe 600 index

European stocks experienced a significant downturn on Friday, led by the Stoxx Europe 600 index which fell by 0.84% to close at 429.58. Similar losses were seen across the French CAC 40 , FTSE 100 , and German DAX indexes, which declined by 1.36%, 0.86%, and 0.30% respectively.

Among the biggest losers were Sanofi (EPA: SASY ) (NASDAQ: SNY ) S.A., Electrolux AB Series B, NatWest Group (LON: NWG ) PLC, Afry AB, and Remy Cointreau S.A., with their shares experiencing sharp drops ranging from 11.3% to 18.9%. On the flip side, Worldline S.A., Siemens Energy AG, Sweco AB Series B, SEB S.A., and Fuchs SE Pfd. saw their shares rise between 6.7% and 9.1%.

In currency markets, both the pound and the euro strengthened against the dollar on Friday, rising by 0.19% and 0.29% respectively. Meanwhile, Brent crude oil prices also increased, up by 0.83% to $87.77.

In bond markets, yields fell as investors sought safety in government debt. The yield on the 10-year gilt dropped to 4.540%, while the yield on the German 10-year bund decreased to 2.83%.

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