European markets close week mixed as U.S.-China tensions persist
European stocks closed mixed on Friday as ties between the U.S. and China came under further strain, potentially threatening the “Phase One” trade deal signed earlier this year.
The pan-European Stoxx 600 provisionally closed a touch above the flatline Friday, with food and beverages falling 0.6% to lead losses while travel and leisure stocks jumped 0.8%.
Concerns over the new Hong Kong security laws hit shares of banks and financial services companies with a significant Asian presence on Friday. HSBC saw its stock fall almost 5%, while Standard Chartered fell 2% and Prudential slid almost 9% to the bottom of the Stoxx 600.
At the top of the European benchmark, Swedish real estate firm SBB jump 9%. The company announced Wednesday that its CEO, Ilija Batljan, was dismissed from a criminal investigation into insider dealing and that the probe has been withdrawn.