Banks lead Europe stocks lower as summit eyed

Posted by Forexsq 547 days ago (http://www.marketwatch.com)
img forexsq - European stock markets inched lower in early action on Friday, as investors eyed the second day of a two-day European summit, while weak U.S. tech earnings weighed on sentiment.

The Stoxx Europe 600 index XX:SXXP -0.24% slipped 0.2% to 275.67, after reaching the highest level since June 2011 the prior day.

Aggreko PLC UK:AGK -6.82% posted the biggest drop in the index, off 6.6%, after it said exchange-rate movements and increased bad-debt provisions likely will hurt full-year profit by 2.5%.

Elsewhere, developments in Brussels were in the spotlight for a second day, as European leaders prepared for the second day of talks at the European Council’s summit.

The council wrapped up the first meeting Thursday night and said it has set a deadline of Jan. 1 to agree on a legislative framework for a single supervisory mechanism.

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