Bruising week for European stocks sees FTSE 100 end in the red
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Michael Hewson, chief market analyst for CMC Markets UK, said: “European markets have continued to look soft, finishing a negative week very much on the back foot with the Dax sliding below its October lows to its lowest levels since March, as concerns grow that the war between Israel and Hamas morphs into a wider conflict. “Today’s declines have been broad-based and sector-wide with tech and basic resources acting as the main drags, while haven plays like gold, and the Swiss franc have continued to make gains.” Nevertheless, there was a glimmer of hope for the UK economy with Bank of England governor Andrew Bailey telling the Belfast Telegraph that inflation is likely to drop markedly from October. In company news, shares in InterContinental Hotels Group dipped despite the Holiday Inn owner recording an increase in room revenues and saying it was looking forward to a “very strong” financial performance for the year.