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European stocks on Friday were limping toward their second-worst weekly finish in the year.
The Stoxx Europe 600
SXXP,
fell 0.3% to 466.08.
The 2% weekly fall, as of midday, is the worst since the 2.4% retreat in the week ending Feb. 26.
The automotive sector paced Friday’s retreat, as Volkswagen
VOW3,
said it would cut production at its main plant in Wolfsburg due to a shortage of microchips, an issue hitting the entire industry.
Travel and leisure sector companies also struggled, with CTS Eventim
EVD,
Deutsche Lufthansa
LHA,
and Wizz Air Holdings
WIZZ,
losing ground.
Of the major regional indexes, the German DAX
DAX,
declined 0.5%, the French CAC 40
PX1,
declined 0.4%, and the U.K. FTSE 100
UKX,
declined 0.2%.
Marks & Spencer
MKS,
was the top-performing Stoxx 600 company, surging 11%, after saying full-year profit would come in above the top end of analyst forecasts.
