European Stocks Move Lower On Economic Worries, Heathrow Closure

(RTTNews) - European stocks moved mostly lower during on Friday as investors fretted about increasing global economic uncertainties resulting from geopolitical tensions and U.S. President Donald Trump's trade tariffs.

The pan European STOXX 600 Index slid 0.6 percent to 549.67 after falling 0.4 percent to snap a four-day winning streak on Thursday.

The U.K.'s FTSE 100 Index and the French CAC 40 Index also fell by 0.6 percent, while the German DAX Index shed 0.5 percent.

Travel stocks faced selling pressure after a significant power outage caused by a nearby fire closed Britain's Heathrow Airport for the day. Lufthansa fell 1.7 percent, IAG lost 1.9 percent and Air France KLM gave up 2.7 percent.

Douglas AG, a perfume and cosmetics retailer, plummeted 22.5 percent after lowering its FY2024/25 guidance due to a decline in consumer sentiment.

Ferrexpo plunged 10.8 on liquidity worries. The iron ore pellet producer said Ukrainian tax authorities had suspended its value-added tax refund worth 512.9 million hryvnias ($12.36 million).

Steel group Salzgitter also tumbled by 2.6 percent after delivering a mixed financial performance in 2024.