European stocks head for a weekly decline as rate hike lasting ‎longer expected ‎

European stocks fell today, Friday, and are heading to end a week full of central bank decisions on a lower note, while investor assessments conclude that borrowing costs are likely to remain high for some time.

According to Reuters, the European Stoxx 600 index fell 0.6% by 0709 GMT, after ending the previous session down more than one percent, as the Bank of England followed the example of the Federal Reserve (the US central bank) and stabilized interest rates. But he expressed his belief that his mission is not finished yet

Shares of technology companies fell 0.3%, shares of real estate companies fell 1.1%, and shares of banks fell 0.4%.

Shares of Stellantis, Chrysler’s parent company, fell nearly 1 percent as the three Detroit automakers and the union representing hourly workers at American companies approached the deadline to reach new labor agreements before the current strike expands to include more factories. .

The National Statistics Institute said that Spain’s gross domestic product grew by 0.5 percent in the second quarter of the year, and revised its estimate for July to increase from 0.4 percent growth.