European stocks retreat on Russia-Ukraine woesReutersEuropean shares ended lower on Friday and dropped nearly 2 percent this week with travel and banking shares leading the declines over caution around rising tensions between Russia and Ukraine ahead of the weekend. The pan-European STOXX 600 fell 0.8 percent and dropped 1.9 percent for the week with travel and banking shares the top weekly losers. “There is a higher probability either of a diplomatic solution or some kind of an incursion, but fairly contained,” PineBridge Investments multiasset manager Hani Redha said. Banking shares have come under pressure this week as rising conflict fears pushed investors toward safer assets, driving short-term European yields lower, which have fallen 12 basis points this week. Finnish drug manufacturer Orion Corp jumped 22.2 percent to the top of STOXX 600 following positive trial results for its prostate cancer treatment.

Source: Taipei Times February 20, 2022 02:35 UTC