19.06.202612:28:21UTC+00European Stocks Cautious on Friday

European stocks were subdued on Friday, with both the STOXX 50 and STOXX 600 slipping 0.1%. The declines put the benchmarks on course to end the session in negative territory, halting a six-day winning streak. Risk appetite weakened following renewed geopolitical tensions in the Middle East after the cancellation of planned US–Iran talks in Geneva. The setback cast fresh doubt on the chances of a peace deal and the reopening of the Strait of Hormuz, nudging oil prices slightly higher.

At the stock level, ASML Holding fell 1.1% after Bloomberg reported that US authorities are examining whether one of its chipmaking systems was transferred to China in potential violation of US-led export controls. L’Oréal slid 2.9%, and Hermès lost 1.8%. By contrast, energy and healthcare shares outperformed. Novo Nordisk rallied nearly 5% after a series of analyst upgrades.

For the week, the STOXX 50 is up 2.1%, while the STOXX 600 has advanced 0.6%.