US data showed that employers in the United States hired more workers than expected in September, and the decline in Unemployment rate Recording 3.5 percent, which increased speculation that the US Federal Reserve will raise interest rates next month by 75 basis points for the fourth time in a row.
The data came on the heels of the release of the minutes of the European Central Bank’s latest meeting on Thursday, which fueled fears of a sharp interest rate hike to contain hyperinflation in the euro zone.
But the pan-European Stoxx 600 index achieved a weekly gain of about one percent, as expectations that major central banks may calm a little from the approach of tightening monetary policy contributed to boosting stocks in the first few sessions of the week and pushed the index to the best weekly performance in a month.
The technology sector, sensitive to interest rate hikes, fell 4.3 percent on Friday, and led the decline in the Stoxx 600, followed by the real estate sectors by 2.4 percent and manufacturing by 2.3 percent.
Adidas shares fell 5.2 percent after the German sports goods and apparel company said it was reviewing its partnership with fashion designer and rapper Kanye West.
Credit Suisse shares rose 5.4 percent after the bank said it would buy back up to 3 billion Swiss francs ($3 billion) of premium debt, in a show of strength as it sought to reassure investors after a turbulent week.
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The pointer fell Stokes 600 The European 1.2 percent, thus recording the third consecutive session of losses.
US data showed that employers in the United States hired more workers than expected in September, and the decline in Unemployment rate Recording 3.5 percent, which increased speculation that the US Federal Reserve will raise interest rates next month by 75 basis points for the fourth time in a row.
The data came on the heels of the release of the minutes of the European Central Bank’s latest meeting on Thursday, which fueled fears of a sharp interest rate hike to contain hyperinflation in the euro zone.
But the pan-European Stoxx 600 index achieved a weekly gain of about one percent, as expectations that major central banks may calm a little from the approach of tightening monetary policy contributed to boosting stocks in the first few sessions of the week and pushed the index to the best weekly performance in a month.
The technology sector, sensitive to interest rate hikes, fell 4.3 percent on Friday, and led the decline in the Stoxx 600, followed by the real estate sectors by 2.4 percent and manufacturing by 2.3 percent.
Adidas shares fell 5.2 percent after the German sports goods and apparel company said it was reviewing its partnership with fashion designer and rapper Kanye West.
Credit Suisse shares rose 5.4 percent after the bank said it would buy back up to 3 billion Swiss francs ($3 billion) of premium debt, in a show of strength as it sought to reassure investors after a turbulent week.