European markets mostly down on week’s final day

By Gokhan Ergocun

ISTANBUL (AA) - European stock markets closed mostly lower on Friday, wrapping up a volatile week shaped by mounting US-China trade tensions following President Donald Trump’s tariff hikes and retaliatory moves from Beijing.

The pan-European STOXX Europe 600 index dipped 0.1% to end the day at 486.8 points, while key national indexes across the eurozone also closed in negative territory.

In France, the CAC 40 slipped 0.3% to 7,104.8 points, while Germany’s DAX 40 dropped 0.92% to 20,374.1 points. Italy’s FTSE MIB 30 fell 0.73% to 34,277.09 points.

The UK’s FTSE 100, however, stood out as the exception, rising 0.64% to 7,964.18 points, supported by strength in energy and banking stocks.

Currency markets also reflected the global uncertainty, with the euro/dollar exchange rate climbing to 1.128, a 0.765% increase as of 1720GMT.

In global markets, US President Donald Trump's reciprocity-based tariffs and escalating tensions with China led to a fluctuating course all week, while China imposed a 125% tariff on imported products from the US in response to Washington's tariff increase in escalating trade tensions.