European Stocks Close Weak As Middle East Tensions, Rate Concerns Weigh

(RTTNews) - European stocks closed weak on Friday as the mood remained largely cautious amid an escalation in tensions in the Middle East and news about Hezbollah rejecting the ceasefire agreement with Israel and launching fresh strikes across southern Lebanon.

Concerns about interest rates rose after data showed a stronger than expected growth in U.S. non-farm payroll employment in the month of May. Investors also digested a slew of regional economic data.

Shares of chipmakers fell, weighed down by a downbeat earnings report from Broadcom

The pan European Stoxx 600 slid 0.29%. Germany's DAX and France's CAC 40 closed down by 0.75% and 0.32%, respectively. The U.K.'s FTSE 100 ended 0.07% up. Switzerland's SMI climbed 0.35%.

Among other markets in Europe, Austria, Czech Republic, Finland, Iceland, Ireland, Netherlands, Poland, Sweden and Türkiye closed weak.

Belgium, Denmark, Greece, Norway, Portugal, Russia and Spain ended higher.

In the UK market, shares of mining companies fell sharply. Fresnillo, Endeavour Mining, Antofagasta and Anglo American Plc lost 5%-6.2%. Glencore shed 3.25% and Rio Tinto closed 3.1% down.

Halma ended 4.4% down. Polar Capital Technology Trust, JD Sports Fashion, Metlen Energy & Metals, Entain, Weir Group, Lion Finance, Prudential and Hiscox were among the other major losers.