[BENGALURU] European equities edged lower on Friday (Oct 31) as investors absorbed mixed quarterly results and a benign euro zone inflation report that reinforced the European Central Bank’s view that price pressures remain contained.
The pan-European Stoxx 600 index ended down 0.5 per cent, its fourth straight losing session.
However, it wrapped up its fourth consecutive month of gains, and its best since May, as hopes of easing US interest rates, improving trade relations between Beijing and Washington and resilient earnings had powered it to record highs this month.
On Friday, insurers were the biggest decliners, down 1.9 per cent. AXA fell 4.4 per cent after reporting a drop in new business profits in its life insurance business and weaker pricing. Paris-based Scor dropped 13 per cent after reporting third-quarter results, leading losses on the Stoxx 600.
Bank stocks were the only bright spot. Erste Group Bank jumped 5.5 per cent…
