Travel, leisure and retail stocks were the worst performers among the STOXX 600 sector indices.
European stocks fell in the Friday session, affected by a jump in bond yields at a time when investors are worried regarding the possibility of a prolonged cycle of raising interest rates by major central banks, while sentiments were further affected following bleak expectations from “Adidas”.
All eyes are on US consumer price data for January, which will be released this week, which will be crucial in shaping market expectations regarding future interest rate increases, according to Archyde.com.
Travel, leisure and retail were the worst performers among the STOXX 600 sector indices, down 3.9% and 3.5% respectively.
The energy sector bucked the trend and advanced 2.3% with the support of “BP” and “Shell” shares, which tracked the impact of the rise in oil prices in light of Russia’s plans to cut oil production.
Adidas shares fell 10.9%, its biggest drop in nearly three years, following the sportswear maker warned it might slip into a loss this year for the first time in three decades. Its rival, Puma, fell 4.6%.
