European stocks decline pressured by technology and ‎sportswear shares

European stocks fell on Friday, under the weight of the decline in technology and sportswear companies, at a time when investors were assessing the impact of a possible disruption in global trade due to attacks in the Red Sea, and awaiting the release of basic inflation data in the United States that might reinforce bets on lowering interest rates next year. ‎

According to Reuters, the European Stoxx 600 index fell 0.2% by 0817 GMT and is on its way to recording its weakest weekly performance in 6 weeks.

Netherlands-based Prosus shares fell by 14.5%, which put pressure on the technology sector to decline by 1.2%.

The personal and household goods sector also fell by 0.6 percent, as shares of Adidas (ETR:ADSGN) fell by 6.1% and Puma by 4.4% after their American counterpart, Nike, lowered its annual sales expectations.

JD Sports shares fell 4.9%, and the broader retail sector fell 0.9%.

The biggest focus before the Christmas holiday will shift to the reading of the Personal Consumer Price Index in the United States, which is the Federal Reserve’s preferred measure of inflation, data that is scheduled to be released later on Friday.