The European STOXX 600 Index closed down 0.57%, with the luxury goods sector generally weakening.

The initial closing of the European STOXX 600 Index fell by 0.57% to 634.10 points, with a cumulative decline of about 1.6% for the week. The initial closing of the Eurozone STOXX 50 Index dropped by 0.6% to 6,050.46 points, with a weekly cumulative decrease of about 2.5%. The FTSEurofirst 300 Index provisionally closed down 0.53% at 2,530.79 points. On Friday's trading day, most stocks in the luxury goods sector weakened, with Kering, the parent company of Gucci, dropping more than 16%, Ferragamo down by 7.2%, Richemont down by 6.3%, while L'Oréal bucked the trend with a 5.5% increase. The collective pullback of major European stock indices, combined with a clear divergence in the luxury sector, also reflects the current differences in market expectations regarding the outlook for European consumption and the overall economic fundamentals.