Europe: Shares end flat as markets assess earnings flurry
The pan-European Stoxx 600 index held steady at 547 points, clocking marginal weekly losses.
Regional bourses were mixed with Germany's benchmark DAX dropping 0.3 per cent, while the UK's blue-chip FTSE 100 gained 0.2 per cent.
With corporate earnings gaining steam, investors are closely examining corporate guidance to see how firms are adjusting to the shifting US tariff policy, ahead of the Aug 1 trade deadline.
'Earnings misses in Europe are being punished by more than history would suggest, pointing to greater scrutiny after a remarkable rally year-to-date,' said Laura Cooper, head of macro credit and investment strategist at Nuveen.
'How corporates are navigating tariff uncertainty, potentially weaker demand, and supply chain dynamics will be in focus, though a message of past-peak tariff enthusiasm could prop up sentiment and drive greater upside.'
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On Friday, Swedish mining equipment maker Epiroc dropped 9.2 per cent after its second quarter results missed market expectations.
Atlas Copco also fell 7.8 per cent after the Swedish industrial group reported second-quarter adjusted operating profit below market expectations and a decline in orders.
There were bright earnings as well, with Saab jumping 16.4 per cent after posting higher-than-expected second-quarter earnings and raising its sales outlook.
Getinge added 6 per cent after the Swedish medical equipment maker reported second-quarter core earnings above market expectations.
Industrials was the best performing Stoxx sub-sector this week, while automobiles was the laggard this week.
On Friday, healthcare stocks were the top losers with British drugmaker GSK down 4.6 per cent after a US FDA advisory panel recommended against approving its blood cancer drug Blenrep due to concerns over side effects.
Helping offset some losses, oil and gas shares added 0.6 per cent and food and beverages advanced 0.8 per cent.
Among other moving stocks, Danish wind turbine maker Vestas jumped 15 per cent after JPMorgan upgraded its rating to 'overweight' from 'neutral'.
Iveco climbed 8.3 per cent after a Reuters report that Italy's Agnelli family is in talks over the possible sale of the truck maker with two mentioning Tata Motors as a potential buyer.
Swedish home appliances maker Electrolux slumped 14.3 per cent after poor second-quarter performance in Europe and India's Reliance Industries said its retail unit acquired home appliance maker Kelvinator from Electrolux. REUTERS
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