In response to growing concerns about an impending recession, European shares dropped, with utilities and telecom companies leading declines.
The index fell for a fourth straight session as worries about a slowdown in economic growth increased ahead of a flurry of interest rate decisions from major central banks the following week. Utilities (.SX6P) and telecom (.SXKP) both experienced early trading declines of about 0.5% and 0.6%, respectively, among STOXX 600 sectors.
Michael O’Leary, the group chief executive of Ryanair (RYA.I), agreed to extend his contract through 2028, the airline announced.
As more people use its e-cigarettes and oral nicotine, British American Tobacco (BATS.L) stated it anticipates full-year revenue growth of between 2% and 4% at constant currency rates.