European shares end week lower on rate hike betsReutersEuropean shares on Friday fell, wiping out earlier gains, after US jobs data supported the case for the US Federal Reserve’s aggressive policy tightening and investors raised their bets on European Central Bank (ECB) rate hikes following robust inflation numbers this week. The pan-European STOXX 600 index fell 0.26 percent to 440.09, with volumes expected to be subdued due to holidays in the UK and China. It ended the tumultuous week 0.87 percent lower. The rate-sensitive information technology sector led losses on the STOXX 600, while the auto sector declined 1.6 percent as France’s Faurecia SE slid 6.8 percent. That said, we expect the market to discount more properly a lower momentum in the economy,” Generali Investments equity strategists said.
