Economic Data Sparks Concerns Across Europe

Major European stock indexes opened lower on Friday, as investors reacted to a series of disappointing economic reports. Germany's factory orders saw a 1.4% drop, while France reported a 0.5% decline in industrial production for May.

Investor Focus Shifts to Geopolitical Tensions

The ongoing conflict in Ukraine remains a critical concern, especially after Russia launched its largest drone and missile attack since the war began. Additionally, trade tensions are mounting as deadlines loom for countries to negotiate deals with the United States to avoid tariffs.

Market Performance Highlights

The Euro Stoxx 50 fell by 0.49%, with Iberdrola leading the losses after its shares dropped 2.33%. Similarly, the CAC 40 slid 0.53%, impacted by Teleperformance's 1.47% decline. The FTSE 100 wasn't spared, losing 0.31%, and the DAX decreased by 0.35%, with Vonovia as the worst performer.

Currency Movements

Despite the market downturn, the euro and pound showed resilience against the dollar, with gains of 0.18% and 0.10%, respectively.