European Shares Extend Losses On Economic Concerns

(RTTNews) - European stocks traded lower on Friday, extending losses from the previous session as investors fretted about an artificial intelligence bubble and the outlook for U.S. interest rates.

The longest government shutdown in United States history has ended but the final agreement left major policy questions unresolved.

The White House has said last month's jobs report and inflation data would "likely never" be released.

Investors were also reacting to data that showed China's slowdown worsened in October, dragged by soft consumer demand and a deepening property downturn.

The pan European Stoxx 600 was down 0.8 percent at 576 after falling 0.6 percent the previous day.

The German DAX dropped 0.7 percent, France's CAC 40 fell half a percent and the U.K.'s FTSE 100 was down over 1 percent.

Siemens Energy soared 9 percent. The German group substantially raised its mid-term financial targets following strong demand for gas turbines, services and power transmission technology.

Financial services major Allianz rose about 1 percent after posting a better-than-expected 15 percent rise in third-quarter net profit.

British commercial landlord Land Securities tumbled 3.3 percent despite reporting strong income growth for the half year ended September 30, 2025.

Likewise, Swiss Re fell 2.7 percent despite reporting a net income of $4bn for the first nine months of 2025, an 85 percent increase from the same period last year.

Luxury giant Richemont surged 7.6 percent after first-half financial results showed strong resilient growth.