European stock markets closed the shortened holiday week in the red on Friday, with luxury and spirits companies taking the biggest hits. Investors remained focused on economic data and potential policy shifts under a Donald Trump presidency, while China-related sectors faced pressure despite government announcements to boost the economy.
European shares finished a shortened holiday week lower on Friday, with luxury and spirits companies leading the decline. While investors kept an eye on economic indicators for hints about interest rate trends and potential changes in US policies under a Donald Trump presidency, the focus remained on these data points. The Irish stock index ended the first week of the new year in negative territory, driven by drops in leisure and construction stocks.
The Euronext Dublin fell just under 1 percent on Friday, echoing declines across European peers. Kingspan slipped around 2 percent to close the week at €68.65, while homebuilder Cairn also lagged behind, shedding 1.7 percent. Fellow construction company Glenveagh saw its share price rise about half a percent over the day. London's FTSE 100 index recorded its steepest drop in over two weeks on Friday, weighed down by declines in spirits maker Diageo, as investors analyzed some of the first datasets of 2025. The blue-chip FTSE 100 fell 0.4 percent but managed a 1.4 percent weekly gain, marking its second consecutive week of gains and its best performance in six weeks. Diageo tumbled 3.9 percent after the US Surgeon General recommended cancer warnings on alcoholic beverages. The stock was the FTSE 100's worst performer, dragging down the beverages sector by 3.4 percent, leading the losses. The pan-European Stoxx 600 index closed 0.5 percent lower in light trading following the New Year holidays. China-related sectors such as miners, luxury goods, and automakers faced pressure even after a Beijing official announced that China would significantly increase funding from ultra-long treasury bonds in 2025 to stimulate business investment and consumer-boosting initiatives. The French stock exchange, home to most of Europe's top luxury brands, declined by 1 percent
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