European Markets Finish Mostly Lower On Bank Weakness

The majority of the European markets ended Friday’s session in the red. Bank stocks were among the weakest performers after Swiss banking giant UBS reported disappointing results.

Meanwhile, British retail stocks were in focus after Tesco announced that it will merge with Booker Group.

Investor sentiment also took a hit after U.S. GDP data for the fourth quarter came in weaker than expected. The early struggles on Wall Street also contributed to the negative mood.

The pan-European Stoxx Europe 600 index weakened by 0.35 percent. The Euro Stoxx 50 index of eurozone blue chip stocks decreased 0.48 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.43 percent.

The DAX of Germany dropped 0.29 percent and the CAC 40 of France fell 0.56 percent. The FTSE 100 of the U.K. gained 0.32 percent, but the SMI of Switzerland finished lower by 0.31 percent.

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