European stocks fell due to losses in mining and technology stocks

The main European stock index fell on Friday, due to declines in mining and technology stocks, as investors evaluated economic data and the start of a four-day truce between Israel and Hamas.

By 0810 GMT, the European STOXX 600 index fell 0.1 percent, but was still on track to achieve weekly gains as investors focused on corporate profits and the possibility of lowering interest rates.

The mining sector fell 0.6 percent, topping sector losses, while technology stocks fell 0.4 percent.

As for political developments, the ceasefire between Israel and Hamas appears to be holding fairly well, with no serious reports of major attacks despite both sides exchanging accusations of violating the truce.

Meanwhile, data showed that the German economy contracted slightly in the third quarter, confirming the initial estimate of a 0.1 percent decline in growth. There was no significant change in the German DAX index.

Forvia and Continental shares jumped more than three percent to top the STOXX 600 index after Barclays raised the rating of the two auto parts manufacturers to “overweight.”